Excellence closes year with anchored trade

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By Morgan Davis
16 Dec 2019

Excellence Commercial Properties Co netted $100m from an offshore bond sale last Friday.

The Chinese real estate company’s three year deal was initially marketed at the 7% area, and final guidance was tightened to 6.8% (the number). The transaction was heavily anchored before the launch, with little bookbuild during the day, said a syndicate banker on the trade

The BB rated ...

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