BoCom breaks lull with $550m floater

China's fifth-largest lender sells an aggressively-priced floater after building a peak order book of $4.25 billion.

BoCom breaks lull with $550m floater

Bank of Communications, China's fifth-largest lender by assets, priced a $550 million three-year floating rate note on Wednesday, making the most of the summer lull to generate a strong order book from deal-starved investors.

The bank was the first Asian issuer to tap the dollar bond market this week. Given that limited supply, the Reg S deal generated more than $4.25 billion of bids before the release of final price guidance, bankers familiar with...

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