Minmetals finds solid support for perp

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By Morgan Davis
26 Feb 2020

Yield-hungry investors pumped in more than $4bn into China Minmetals Corp’s $1bn perpetual bond on Tuesday. The issuer started at a generous pricing level to attract buyers in a volatile market.

Despite the rocky global backdrop, following a plummeting US stock market on Monday, Minmetals readied its transaction on the back of a well-anchored book, said a syndicate banker on the trade.

Global co-ordinators BOC International, Deutsche Bank, DBS, ICBC and JP Morgan began marketing the perpetual ...

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