china-retailer-finds-its-customer-base

China retailer finds its customer base

JPMorgan generates huge order book to price ParksonÆs new offshore bond at tighter than initial guidance.
Sole lead JPMorgan built up an impressive order book ahead of the pricing of a $200 million Reg-S five-year bullet transaction for Chinese retailer Parkson on Tuesday. As a result, the deal closed well inside of initial price guidance.

JPMorgan kicked off roadshows last Thursday in Singapore, before heading to Hong Kong on Friday and London on Monday. Price guidance was announced on Tuesday Asia time, and the deal was priced mid-morning in the UK to allow for London to review the book before pricing was finalised.

When guidance was released yesterday, the lead sought a price of around 8%. But due to the popularity of the transaction, JPMorgan was able to...
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