CNPC underwhelms with $1.85 billion debut bond

CNPC (HK) Overseas’ $1.85 billion bond falls short of the $3 billion expected, while its 30-year bonds rally sharply, prompting criticism of mispricing.

<div class="ArticleImageCaption" style="text-align: left;"> CNPC's headquarters in Beijing</div>

Denise Wee

April 26, 2011

CNPC (HK) Overseas Capital priced a $1.85 billion triple-tranche deal early last Thursday morning, marking its debut international dollar bond.

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