ChemChina steps up with its perp

Strong demand for deal with a "proper" perpetual structure as group moves closer to creating the world's largest chemical company.

ChemChina steps up with its perp

China National Chemical Corp ChemChina made a rare foray into the international bond markets on Wednesday with a well-received deal encompassing a traditional perpetual structure. 

The $600 million transaction had aggressive pricing but attracted peak demand of $6.9 billion as investors bet on a future when ChemChina overtakes Germany's BASF and America's Dow Chemical to become the world's largest chemical company.

The fundraising is part of the group's efforts...

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