ADBC debuts in dollars, revisits CNH

Digital China_230px
By Addison Gong
20 Sep 2018

Chinese policy bank Agricultural Development Bank of China made its first foray into the dollar bond market on a busy Wednesday to raise $700m, alongside a Rmb1.2bn ($175m) return to offshore renminbi.

Global co-ordinators Bank of China, Bank of Communications and Standard Chartered announced the dual-tranche transaction on Wednesday morning in Asia, setting initial guidance for a three year dollar floating rate note at the area of 85bp over three months Libor, and at the 4.45% area for the two ...

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