Sweet deal for Labixiaoxin after big demand for dollars

Chinese sweet maker Labi­xiaoxin Snacks Group has closed a $75m loan after finding enough demand to attract three banks as bookrunners after the deal was launched — and use a greenshoe to increase it beyond its $60m initial target.

  • 14 Feb 2013

Deutsche Bank was the original bookrunner of the loan, and was later joined by China Citic Bank, China Development Industrial Bank and Taishin International Bank as MLABs. The four banks were allocated $6m each, said a banker on the deal.

Deutsche pitched lenders with a pricing of 350bp over ...

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