China rail duo set H-share CBs on right track

Wuhan Railway_230px
By Jonathan Breen
28 Jan 2016

China Railway Rolling Stock Corp hit the equity-linked market this week for $600m, becoming only the second firm to print an H-share CB in Asia since 2007. The deal, which follows a similar issue from a Chinese peer earlier this month, has set in motion the transition from a rare deal type into a regular funding option.

CRRC priced its CB on Monday, coming hot on the heels of China Railway Construction Corp, which printed a $500m five year put three on January 18.

For its transaction, CRRC brought on CICC, JP Morgan and UBS as global co-ordinators and lead bookrunners, as well as Bank of ...

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