CNPC raises Rmb3bn in dim sum, bankers ponder next up

20 Oct 2011

The dim sum bond market came back to life this week after a three week hiatus. China National Petroleum Corp (CNPC) closed the most eye-catching deal, raising Rmb3bn ($469.9m) from a dual-tranche offer.

The deal was split between a Rmb2.5bn two year tranche, yielding 2.60% off a 2.55% coupon, and a Rmb500m three year, which came with a coupon of 2.95% and yielded 3%. Bank of China and HSBC and were joint global co-ordinators, and were joined by Deutsche and ICBC ...

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