Beijing Infrastructure prices $1b bond

China’s latest infrastructure-backed dual-tranche note raises funds for the development of Beijing’s metro system.

Beijing Infrastructure prices $1b bond

Beijing Infrastructure Investment raised $1 billion from a dual-tranche bond offering on Thursday to help fund the development of Beijing’s metro system.

The metro construction firm’s latest Reg S bond its second international debt offering this year as China ramps up its infrastructure spend comprises a $700 million three-year note and $300 million five-year note. The two tranches priced at US Treasuries plus 170 basis points and 167.5bp, respectively, compared with initial...

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