China Citic Bank nails Rmb3bn debut Panda bond
China Citic Bank International issued its first Panda bond this week, pricing a Rmb3bn ($437m) three year. The proceeds will remain onshore, but it is understood the deal will help meet the borrower’s funding needs for both the mainland and Hong Kong.
GlobalCapital Asia's sister publication GlobalRMB reported on May 18 that Citic was planning its debut in the Panda market, a day before the issuer provided investors with a tight indicative coupon range of 4.2%-4.4%, according to a document filed with Shanghai Clearing House (SHCH).
The bond was priced on
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