CCC uses subordinated structure for $1.5bn outing

China Shanghai photo from Adobe 17Dec19 230x150
By Morgan Davis
14 Feb 2020

China Communications Construction Company courted investors with two subordinated perpetual notes on Thursday, netting $1.5bn from the transaction.

Global co-ordinators Credit Suisse and HSBC began marketing a perpetual non-call five year bond at the 3.7% area, and a non-call seven year note at the 4% area.

BoCom International, CLSA, Huatai Financial Holdings (Hong Kong), SMBC Nikko and Standard Chartered were also on the state-owned ...

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