China Cinda prices first PRC asset management dim sum

The asset manager handling China's bad loans gives investors comfort through a keepwell agreement, intercompany loan and share pledge.

China Cinda prices first PRC asset management dim sum

China Cinda Asset Management closed a Rmb2 billion $321 million dim sum bond on Wednesday the first dim sum bond from a Chinese asset manager. The deal was also the largest unrated dim sum bond from a Chinese state-owned enterprise this year.

China Cinda is 83%-owned by China’s Ministry of Finance and UBS, Citic Capital, Standard Chartered and National Social Security Fund hold the rest. It was one of four asset managers set up...

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