Avic squeezes perp tight, nabs $200m

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By Morgan Davis
18 Oct 2019

Avic International Leasing Co followed the success of Chinese National Travel Service Group Corp's bond this week, raising $200m from its own aggressively-priced perpetual note on Thursday.


On Wednesday, CNTS sold a $600m dual tranche transaction that included a $300m perpetual non-call three year note, sold at 3.35%. The transaction was a clear success, leaving investors hungry for more perps and clamouring for CNTS's notes in the secondary market on Thursday morning.

"Investors ...

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