Anchor investors give lifeline to Shougang dim sum bond

Rivals speculate that Shougang Corp's dim sum bonds were not widely distributed and suffered weak take-up from institutional investors.

Anchor investors give lifeline to Shougang dim sum bond

Chinese state-owned steel company Shougang Corp priced a Rmb1 billion $157 million two-year dim sum bond at 4.875% on Thursday.

The unrated bonds were issued through British Virgin Islands-incorporated Shougang Holdings Bonds. The guarantor is Shougang Holdings Hong Kong, a holding company with no significant assets aside from equity interests in various companies, which has paid dividends of roughly HK$45 million $5.7 million during the past year.

Investors bought the...

To continue reading, please login or register for free

Click for more on: shougang corp | baosteel

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...