ChemChina’s Bluestar lures investors with juicy premium

By Addison Gong
01 Nov 2018

China National Bluestar (Group) Co paid a handsome new issue premium for a $300m senior perpetual bond amid weak sentiment for the structure, as its deal caused a widening in the broader Chinese senior perp market.

Before Bluestar, there was a months-long drought in senior perp issuance from Chinese borrowers. In May, China Minmetals Corp’s subsidiary and flagship real estate arm, Minmetals Land, priced a $200m 7% perp non call three year deal, before Agile Group Holdings closed a $100m trade in June. 

Minmetals ...

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