China Glass braves tamer market with $100 million bond

The company is set to price its high-yield bond on Thursday after two other issuers pulled their deals last week due to market volatility.

China Glass Holdings says it should price its BB1-rated Reg-S senior guaranteed 5-year bond in the mid- to high-9% range. The pricing announcement comes after significant market volatility last week which caused Malaysia International Shipping Corporation MISC and Korea's Kia Motors to pull their deals - worth a combined $1.25 billion - from the market.

Much of the volatility was due to renewed concerns about the depth of the subprime loan problem in the US. And while some...

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