China Oil lights up HY industrial supply with new bond

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By Addison Gong
19 Jul 2019

Piped city gas distributor and repeat issuer China Oil and Gas Group has nabbed $320m for refinancing, offering investors some diversity amid a burst of supply from high yield property names.

Bookbuilding for China Oil’s return to dollar bonds started from the 6% area for a 3.5 year non-call two year bond on Thursday morning local time. Deutsche Bank and Morgan Stanley were the global co-ordinators and bookrunners.

The deal had an order book of over $1.25bn when ...

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