Sinochem (HK) closes inaugural offshore renminbi bond

Sinochem (Hong Kong) Group yesterday priced a Rmb3.5 billion three-year offshore renminbi bond at a yield of 1.8%.

Chinese fertiliser company Sinochem Hong Kong Group yesterday closed its Rmb3.5 billion $528 million inaugural offshore renminbi bond.

The so called dim sum bond was upsized from an expected Rmb3 billion to meet strong demand from investors who put in total orders of Rmb9 billion. The three-year Reg-S only bond priced at a yield of 1.8%, at the tight end of the 1.85% -5bp final guidance. The initial guidance was 1.75% to 2%.

Deutsche Bank was the global...

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