CréditAg breaks new ground with first Panda bond

Panda eating bamboo shoots from Adobe 230x150
By Rebecca Feng
05 Dec 2019

Crédit Agricole printed a Rmb1bn ($142m) three year renminbi bond in China on Wednesday. Despite being a senior preferred deal and including write-down and conversion to equity clauses, both new to onshore investors, the Panda still managed to achieve tight pricing and a well-covered book. Rebecca Feng reports.

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