ADBC seals largest dim sum bond in two years

dim sum px230
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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