Shandong Iron navigates weakening market for $500m

Bond market graph volatility from Adobe 22May20 575x375
By Morgan Davis
30 Oct 2020

Shandong Iron & Steel Group Co was forced to pay 50bp more than it expected for a new $500m three year bond on Thursday, despite trying to appeal to investors with a positive spin on its future fundraising plans.

The Chinese issuer, crunched for time because of a need for funds, hit the dollar market right as Asian bond issuance began to slow ahead of the US presidential election next week. October has been busy for borrowers seeking to lock up deals ahead of the election and ...

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