CICC HK reopens Chinese FRN with $400m bond

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By Addison Gong
05 Sep 2018

China International Capital Corp (Hong Kong) has priced a $400m three year floating rate note in line with market expectations, paying just a single-digit new issue premium.

Global co-ordinators CICC, Citi and Standard Chartered opened books for a three year transaction on Tuesday morning at the area of 140bp over three month Libor. Partly thanks to the lack of bond supply from financial institutions in recent weeks, as well as the absence of Chinese FRNs ...

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