Shanghai Electric stuns with €600m bond

Chinese power generation firm debuts its first euro-denominated offering, upsizing it from an initial €500 million as yield-hungry European investors clamour for the notes.

Shanghai Electric stuns with €600m bond

Shanghai Electric made a stunning eurozone debt market debut late on Tuesday, successfully selling a 600 million $669 million five-year bond as it met with strong demand from yield-starved investors.

Rated A2AA, the Shanghai-based power generation firm priced the Reg S-only note at mid-swaps plus 80 basis points, 15bp tighter than the initial price guidance area, according to a term sheet seen by FinanceAsia.

Shanghai Electric, which raised...

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