Bright Food serves euros to Chinese buyers

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By Morgan Davis
16 Jul 2020

Chinese food and beverage company Bright Food sold a euro bond via its Singapore arm on Wednesday, raising €800m. It leaned on Chinese bank support to price the deal at a tighter level than where European investors were willing to buy.

The Covid-19 pandemic has dampened enthusiasm among Asian issuers for euro issuance from Asia in the second and third quarter. That has created some price discrepancies. Chinese borrowers usually pay about 20bp-30bp more for a euro bond than the equivalent dollar note, said a syndicate banker on the ...

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