Chexim brings fixed rate debut

Policy bank fights seasonal slowdown and a full pipeline.

The Export Import Bank of China Chexim made a rare entry to the US dollar market on Friday night with a reduced $750 million 10-year deal, priced one day later than expected. The A2BBB rated issue was led by Citigroup, Deutsche Bank, Goldman Sachs global co-ordinator and HSBC.

Pricing came at 98.921% on a coupon of 5.25% to yield 5.391% or 93bp over Treasuries and 44bp over Libor. This was about 3bp tighter than...

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