Juicy yields attract investors to ChemChina

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By Addison Gong
08 Mar 2018

China National Chemical Corp (ChemChina) has raised $6.4bn from a six-tranche transaction in euros and dollars to refinance debt taken for Syngenta’s acquisition. The issuer was willing to pay up to take more on the long end of the curve, with the juicy premium summoning a book of more than $15bn at its peak.

The —/BBB/A- deal, sold by CNAC (HK) Finbridge Company and guaranteed by ChemChina, had the backing of a large syndicate group of 18 firms: Bank of America Merrill Lynch, Barclays, BNP Paribas, BOC International, China Citic Bank International, Commerzbank, Crédit Agricole, Credit Suisse, First Abu Dhabi Bank, ...

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