Haitong makes stunning return with $600m five year

Haitong Securities nameplate 230px
By Rev Hui
04 Sep 2014

Haitong International Securities Group became the first Chinese brokerage group to issue a bond with a credit rating on Wednesday. Despite a crowded market, the rating, combined with the sector's rarity, ensured a strong reception from investors.

Some 240 accounts poured into the bond, which opened books via joint global co-ordinators Deutsche Bank and Haitong International with initial price thoughts at high 200bp over Treasuries.

But, according to a banker close to the trade, books might not have opened at all as the ...

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