AVIC attracts strong demand, adds 10 year tranche

By Lorraine Cushnie
12 Sep 2013

Chinese state-owned enterprise AVIC International made a strong debut this week, pricing a $500m dual tranche bond that received solid support from anchor investors, thanks in part to a guarantee from China’s State Administration of Foreign Exchange (Safe).

The structure of the deal and the stature of the company were as solid as they could be for a Chinese SOE wanting to issue bonds offshore, according to a senior banker on the deal.

The $300m five year tranche launched on September 5 with initial price guidance ...

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