Zhongrui Industrial debuts in turbulent market with $85m trade

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By Addison Gong
27 Mar 2018

China’s Zhengzhou Zhongrui Industrial Group has sold a two year bond, making the unusual move of tightening pricing after releasing guidance at a fixed level. The issuer raised a small $85m, but still outdid some of its peers.

The deal was the second largest among four transactions in Asia ex-Japan on Monday. The largest came from Agile Group Holdings which sealed a $100m tap. Taizhou Huaxin Pharmaceutical Investment Co also tapped its existing bonds and raised a mere $56m, while Car, formerly ...

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