CSIC repeats peer's award-winning PSBC exchangeable

State-owned shipbuilder monetises bulky bank investment by replicating a similar deal six months ago. Will other cornerstones, such as troubled HNA Group, do the same?

CSIC repeats peer's award-winning PSBC exchangeable

If something's worth doing, it's worth copying  and equity capital market deals are no exception.

China Shipbuilding Industry Corporation CSIC underscored that point on Wednesday, when it sold $1 billion of bonds exchangeable into shares of Hong Kong-listed Postal Savings Bank of China PSBC. Rather than dreaming up something completely new, CSIC largely followed the model set just six months earlier by Shanghai International Port Group.


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