Three is the magic number for Citic Bank bond spree

04 Oct 2012

Citic Bank International clearly does not believe in half-measures. The Hong Kong-based lender turned to bond investors late last month for lower tier two capital, and quickly followed that with an offshore renminbi bond. Now it has decided it wants to return to the dollar bond market, but this time for senior funding.

The bank raised $300m from the sale of a lower tier two bond on September 20, receiving $7.5bn of demand for the 10 year non-call five deal. It issued Rmb500m ($79m) of dim sum bonds only four days later, marking its first public issue in the offshore renminbi ...

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