Citic Securities opts for credit-enhanced $800 million dollar debut

Mainland broker Citic Securities, which bought CLSA last year, issues an $800 million debut dollar bond.

Citic Securities opts for credit-enhanced $800 million dollar debut

China’s leading brokerage firm Citic Securities early this morning printed an $800 million dollar debut, in what was a late pricing for a Reg-S transaction.

The five-year bond had a standby letter of credit from Bank of China’s Macau branch. The bonds were issued by Citic Securities Finance and, in addition to the letter of credit, there was also a keepwell deed with Citic Securities Company, which, according to one source, gave even more...

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