The lead underwriter, China Merchants Securities, priced the Rmb1bn fixed rate class A1 tranche at 3.4%. The notes were 2.25 times subscribed. The fixed rate Rmb3.1bn class A2 notes and Rmb195m class A4 notes were sold at 3.86% and 4.95%, and were 1.5 times and 2.3 times subscribed,
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