Xinhua closes debut dollar bond

Xinhua leverages solid third quarter results to price its debut offshore bond deal at the tight end of guidance.

Xinhua Finance completed its debut offshore bond offering with a $100m five-year fixed-rate deal via sole bookrunner ABN AMRO. The notes, delayed for a few days pending the release of XinhuaƆs third quarter results, were priced at the tight end of initial price guidance.

ABN AMRO released guidance on the B2B rated deal at 10.25% to 10.5%. When the deal finally closed it priced at 99.041, paying a semi-annual coupon of 10%, to yield 10.25%, on a spread...

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: abn amro | financials | debt | fixed income

Print Edition

FinanceAsia Print Edition