China Shanshui seals $500m bond

Chinese cement company sells its first bond in three years, significantly compensating investors buying into a sector that continues to be structurally challenged.

China Shanshui seals $500m bond

Shandong-based China Shanshui Cement sold a $500 million five-year bond callable in year three late on Wednesday, offering investors substantial pickup in a sector that continues to be structurally challenged.

The BBB rated Reg S-only offering priced at 98.98% on a coupon of 7.5% to yield 7.75%, according to a term sheet seen by FinanceAsia. Final pricing was 37.5 basis points inside initial price guidance around the 8.125% level.

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