BoCom mixes fixed, FRN for $1.15bn

Bank of Communications_Adobe_8July
By Alice Huang
04 Sep 2020

Bank of Communications used its Hong Kong arm for a tightly priced dual-tranche deal on Thursday, bringing back floating rate and fixed rate combo bonds for Chinese financial credits.

Chinese financial firms have been active bond issuers since June. This week alone, Industrial and Commercial Bank of China and China Merchants Bank raised a combined $2.6bn before Thursday.

But most issuers have opted to ditch floating rate notes (FRNs), with the last floating bond coming ...

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