China Shanshui bond

China Shanshui pays up for $400 million bond

China Shanshui Cement secures solid US support, but pays up to price its debut bond.
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China Shanshui's monitoring centre at its headquarters in Jinan
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<div style="text-align: left;"> China Shanshui's monitoring centre at its headquarters in Jinan </div>

China Shanshui Cement priced a debut $400 million bond early yesterday morning against a backdrop of investor apathy towards China’s high-yield sector.

Barclays Capital, Credit Suisse, Deutsche Bank and Standard Chartered Bank were joint bookrunners.

The five-year non-call-three issue priced at a yield of 8.5%, at the tight end of the 8.5% to 8.75% initial guidance. There were rumours in the US that the deal was being whispered at mid-8%, but this was conjecture according to a source familiar with the deal.

China Shanshui Cement is the second Chinese cement company to tap the dollar market, after West China Cement issued its debut bond...

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