GC
Redco debuts in sustainability market
Redco Properties Group raised $220m on Wednesday from its first sustainability bond.
The Chinese company’s 364-day bonds were initially marketed at the 10% area. The $220m notes were closed with a 8% coupon. The bonds were sold at 98.375, or a yield of 9.75%.
Analysts at Nomura saw fair value around the high-9% area. In comparison, the borrower ...Already a subscriber? Login
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