Longyuan Power makes strong bond return

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By Morgan Davis
11 Nov 2020

Wind power giant China Longyuan Power Group Corp found overwhelming support for its $300m bond sale, with investors giving the firm’s state ownership, deal timing and sector of operation a big thumbs up.

The A3/A- rated borrower last sold a dollar deal in September 2014, raising $500m from a 2.875% bond. Those notes matured in 2017, and the issuer has not come offshore since.

Because of this, some investors were unfamiliar with the Longyuan Power name, and initially viewed ...

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