GC
Citi nets $300m from cash-settled Longfor EB
Citi has raised HK$2.3bn ($300m) from a cash-settled exchangeable bond that uses Chinese property company Longfor Group Holdings as the reference stock, offering the market a rare structure for the first EB in the region this year.
The US bank launched the deal soon after Hong Kong markets closed on Thursday, kicking off an accelerated bookbuilding for the July 2024 bullet EB at 4.15pm, according to a source familiar with the trade.
The notes carry no put or call options but are linked to the ...Already a subscriber? Login
