Jin Jiang drops letter of credit for euro return

Hotel Check In
By Owen Sanderson
18 Sep 2019

Jin Jiang International Holdings issued its second euro bond on Wednesday, and its first without the support of a standby letter of credit. The Chinese conglomerate has euro assets to fund, following its acquisition of Radisson Hotels last year.

BNP Paribas, Crédit Agricole and ICBC (Asia) led the issue as global coordinators, with Bank of China, DBS Bank, Shanghai Pudong HK Branch and Standard Chartered as lead managers

The leads announced the deal as a €500m no-grow on Wednesday morning, through financing vehicle Pterosaur Capital. The deal ...

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