ADBC seals largest dim sum bond in two years

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By Rebecca Feng
31 Oct 2019

Agricultural Development Bank of China, one of three Chinese policy banks, bagged Rmb5.5bn ($781m) from a popular dual-tranche offshore renminbi bond on Wednesday, adding some life to the moribund dim sum market. Rebecca Feng reports.

Global co-ordinators, bookrunners and lead managers Bank of China, Bank of Communications and Standard Chartered set the initial price guidance for a three year green tranche and a five year conventional tranche at the 3.45% area and 3.7% area, respectively, on Wednesday morning.

Momentum was strong, according to ...

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