Geely prices debut perp at tight spread over senior

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By Addison Gong
28 Nov 2019

Chinese car manufacturer Geely Automobile Holdings came out with its first perpetual deal this week, raising $500m while paying a small premium over its outstanding senior bond.

The Hong Kong-listed company sold the $500m senior perpetual non-call five year bond with a yield of 4.08%. This was 42bp inside the initial price guidance, set at the 4.5% area by global co-ordinators Bank of America, Barclays, BNP Paribas, HSBC and UBS. Bank of China, CLSA, DBS and Standard Chartered were also on the Reg S transaction as the bookrunners and lead ...

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