Greenland sells new dual-tranche bond alongside tender

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By Morgan Davis
16 Jul 2020

Greenland Holding Group Co met its $650m size target for a bond on Wednesday, pairing the dual-tranche outing with a tender offer for its maturing notes.

The B1/BB/BB rated Chinese real estate borrower announced its transaction alongside a tender offer for its $500m 4.85% August 2020 bond. The tender price was set at 100.2.

Having the tender offer out while Greenland courted investors for a new transaction was helpful, said a syndicate ...

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