Xinhua closes debut dollar bond
Xinhua leverages solid third quarter results to price its debut offshore bond deal at the tight end of guidance.
Xinhua Finance completed its debut offshore bond offering with a $100m five-year fixed-rate deal via sole bookrunner ABN AMRO. The notes, delayed for a few days pending the release of XinhuaÆs third quarter results, were priced at the tight end of initial price guidance.
ABN AMRO released guidance on the B2B rated deal at 10.25% to 10.5%. When the deal finally closed it priced at 99.041, paying a semi-annual coupon of 10%, to yield 10.25%, on a spread...
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