Haitong International squeezes pricing for new bond

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By Addison Gong
07 Nov 2019

Haitong International Securities Group raised $400m from the bond market this week, selling a deal inside fair value after a larger-than-expected price tightening.

Global co-ordinators Haitong International, Maybank and Mizuho started bookbuilding for Haitong’s new 5.5 year senior bond at the 190bp over US Treasuries area on Wednesday morning Asia time. That was well above where the securities house’s outstanding bonds were trading in the secondary market.

Securities houses have been ...

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