Citic Envirotech prices $180m tight tap

citic px23-
By Max Bower
29 Jun 2016

Citic Envirotech has priced a $180m tap of its existing $175m 5.45% perpetual notes at the tighter margin of 4.25%, becoming the first Asian G3 bond issuer since the UK’s decision last Friday to leave the European Union.

The $180m deal was priced at a coupon of 4.25% from a relatively small order book of $340m from 22 accounts.

Yields fell further through Tuesday following an enthusiastic response from investors, much of which was thanks to the tenor on the new transaction, said a banker close to ...

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