SMC rides on strong market for $600m perp

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By Rashmi Kumar
15 Jan 2020

SMC Global Power Holdings Corp took advantage of an exceptionally bullish credit market, getting a peak order book of around $5bn for a $600m deal.

The Reg S perpetual non-call six year bond was initially marketed in the 6.125% area on Tuesday morning at the Asia market open. Investors placed orders worth more than $1bn by 10.20am Hong Kong time, said a syndicate banker on the transaction.

The order book rose ...

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