Fantasia gobbles up dim sum as outlook still weak

dim sum px230
By GlobalCapital
27 Apr 2016

Fantasia Holdings Group sold the first high yield offshore renminbi bond since last summer, pricing a Rmb600m ($92.4m) three year on Tuesday. Although market participants welcomed new activity in the moribund dim sum market, the outlook for more issuance is bleak.

When Bank of America Merrill Lynch and Guotai Junan International opened books for Fantasia’s three year dim sum on Tuesday with initial guidance at the high 9% area, some market observers were excited to see the first offshore HY renminbi offering in many months.

“Hungary issued a dim sum not ...

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