CRRC steams in with equity linked deal

Chinese rolling stock manufacturer ignores volatile markets to complete debut convertible bond offering exactly one week after an industry peer.

CRRC steams in with equity linked deal

Chinese rolling stock manufacturer CRRC Corporation executed a maiden $600 million H-share convertible bond overnight on Monday, the second deal from the sector in the space of a week.

The deal by the world's largest rolling stock manufacturer closely followed a similar $500 million offering by the world's second largest engineering and construction company China Railway Construction Corp CRCC.

CRRC’s transaction also had an almost identical structure to...

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