Wrapped up warm, Pointer braves dim sum market

05 Oct 2012

Chinese textile and garments supplier Pointer Investment (Hong Kong) raised Rmb400m ($63.6m) from its first foray into the dim sum market last week. The deal carried a guarantee from Export-Import Bank of China (Chexim) to ensure demand from investors.

Pointer priced the three year bond at 3.75%, in line with final guidance. The company paid a premium of around 45bp-50bp over the secondary prices of Chexim’s 2.9% April 2015 bond, said bankers working on the deal.

The firm was only the second dim sum issuer to get a ...

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