CDB prices CNH 10yr on the back of insurance demand

By Virginia Furness
31 Jul 2014

China Development Bank (CDB) priced a new 10 year dim sum bond on Wednesday. The bond was issued on the back of reverse enquiry from insurance firms that had a clear idea of what they wanted to pay, said bankers.

“There’s not a lot of 10 year paper out there and if there’s an opportunity to buy then this is it,” said a syndicate banker on the deal. “The 4.35% handle looks ok to these investors and the borrower didn’t want to take any more.”

Joint lead managers ...

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