China Cinda sold a $3 billion dual-tranche offering early Friday morning, pricing its second bond in slightly less than a year thanks to lower funding costs.
Rated A3A-A, the Chinese bad debt management firm priced a $1.3 billion five-year note and $1.7 billion 10-year note at Treasuries plus 190 basis points and 240bp, which is 25bp tighter than their initial price guidance areas, according to a term sheet seen by FinanceAsia.
The cost of the latest Reg S144A bond is much cheaper than its previous dual-tranche offering raised last May, when it also priced a five- and 10-year tranche at Treasuries...
¬ Haymarket Media Limited. All rights reserved.
