World Bank taps for extra Rmb300m

06 Jun 2013

The International Bank of Reconstruction and Development (IBRD) attracted an extra Rmb300m on June 6 when it reopened books on its recently priced offshore renminbi bond in response to strong reverse enquiry from investors.

The tap raised the total size of the one year global deal to Rmb2bn ($323m). It was priced on May 31 with a 2% coupon. HSBC was sole bookrunner on the original deal and the tap.

The bank’s revisit was spurred by strong demand from what the deal notice ...

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