Car crash: Issuer’s Panda outing struggles

China stock crash PA 230x150
By Noah Sin
26 Apr 2018

Hong Kong-listed Car was caught in the eye of an onshore storm this week as bond investors retreated after initial excitement over the central bank’s move to boost liquidity. But the borrower found joy elsewhere — from a visit to the dim sum bond market. Noah Sin reports.

The auto rental company was hoping to scoop up Rmb1.7bn — more than twice the Rmb730m ($115.8m) it ended up raising — from a Panda bond when it published its initial issuance documents on the Shanghai Stock Exchange ...

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