Government backing helps XCMG dollar loan to blow out

Chinese construction machinery maker XCMG has had a blow-out response to a dollar loan that it will sign next week, finding around $600m of demand for a deal that will now be worth $280m, a big increase from what the company originally planned.

  • 09 Aug 2012
Sole bookrunner Crédit Agricole attracted demand from 17 banks in syndication, including six banks that came in at the level of mandated lead arranger. The strong response was mainly a reflection of XCMG’s strong backing: it is owned by the Chinese government. That made its pricing look attractive ...

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