Shandong Shipping prices SBLC-backed deal

Shandong Shipping takes advantage of secondary market momentum with a debut bond, credit-enhanced by Agricultural Bank of China.

Shandong Shipping prices SBLC-backed deal

Shandong Shipping Corporation made its debut in the international bond markets on Wednesday with a credit-enhanced deal guaranteed by Agricultural Bank of China. A capped $200 million five-year fixed-rate bullet deal was issued in the name of subsidiary SDSC International Finance.

Pricing came at 99.539% on a coupon of 3.625% to yield 3.727% or 207.5bp over Treasuries. This was 27.5bp tighter than initial guidance around the 235bp level and led to...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: bonds | investment grade | hsbc | abc | transport

Print Edition

FinanceAsia Print Edition