Far East pushes bond to Rmb1bn after huge bid

27 Feb 2013

Far East Consortium raised Rmb1bn ($158.9m) on Monday evening, after its bookrunners were able to double the size of a dim sum bond from what they had initially planned. The company turned its back on a dollar bond last year after struggling to get enough demand, but that was clearly not a problem in the offshore renminbi market.

Far East was initially looking for a minimum of Rmb500m from the three year bond, but after its bookrunners managed to cover the order books for the deal multiple times, they pushed Far East for an increase. That looked likely to boost the deal to around Rmb750m, said ...

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