China Orient pays up to price debut AMC
China Orient Asset Management Company was able to lock in support for its first US dollar denominated bond on September 12 even though investors and bankers struggled with how to price a bond that did not have any direct comparables.
Still, the five year deal was able to double initial volume sizes to $600m thanks to its strategic importance to the government—it is one of the top four AMCs in China and is 100% owned by the Ministry of Finance.Initial price guidance was announced at 337.5bp over ...
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