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Times Property serves up $225m single B five year debut
Times Property Holdings made its debut on Thursday with a five year non call three bond. But while investors were given extra time to get familiar with the credit, some bankers away from the deal still felt pricing was too wide.
The Chinese property developer raised $225m from the Reg S dollar bond, which priced at 12.825% on Wednesday night. This was slightly tighter than the final guidance of 12.875% that had been released on Wednesday morning. Initial guidance was set on Tuesday at 13% area.
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