CDBL scores tight price for $700m bond

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By Morgan Davis
05 Mar 2019

China Development Bank Financial Leasing Co (CDBL) has raised $700m from the bond market, leaning on anchor orders to squeeze a tight final price.

The bookrunners began marketing the three year notes at 155bp over US Treasuries area on Monday morning local time. That appeared a reasonably generous initial range — Nomura analysts said they thought fair value was about 130bp over — but the issuer was able to get away with ...

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