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GC Asia
China Merchants Bank opens books for offshore RMB debut
First time dim sum issuer China Merchants Bank launched a three year offering on Thursday that will be capped at Rmb1bn ($162m).
“They’re only looking at issuing up to Rmb1bn because that’s all they've been approved by regulators to do,” commented a syndicate head on the deal.
Joint global co-ordinators Citi, HSBC, Standard Chartered and Wing Lung Bank launched initial price thoughts at the 4.35% area.
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