CNTS meets leftover demand with longer bonds

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By Addison Gong
17 Oct 2019

Chinese central government-owned China National Travel Service Group Corp (CNTS) made a quick return to the dollar bond market this week, extending its maturity profile with a $600m dual-tranche transaction.

CNTS sold a $300m 10 year bond at a spread of 135bp over US Treasuries and a $300m perpetual non-call three year at a yield of 3.35%. Bank of China (Hong Kong), DBS and HSBC were the global co-ordinators, with ICBC (Asia), Bank of Communications, CCB International, CMBC ...

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