Swire houses new dollar bond

Does rarity value compensate for aggressive pricing?

Swire houses new dollar bond

Swire Pacific returned to the dollar bond market for the first time in almost exactly two years on Monday with a $500 million 10-year Reg S deal that priced very close to its outstanding curve.

The A3A-A- rated credit felt confident in pushing for fairly aggressive pricing after building up a $1.6 billion order book on the back of indicative pricing around 190bp over Treasuries. This was subsequently revised to 2.5bp either side...

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