PowerChina makes perpetual return

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By Morgan Davis
23 Sep 2020

Power Construction Corporation of China (PowerChina) was back in the dollar market with a perpetual bond on Tuesday, nearly a year after its last deal.

The —/BBB+/BBB+ rated borrower’s last trade was in October 2019, when it raised $300m from a 3.55% perpetual non-call 2024 bond.

Global co-ordinators Bank of China and Standard Chartered, with bookrunners and lead managers Agricultural Bank of China Hong Kong branch, BoCom International, CCB International, ...

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