Why ChemChina displaced Syngenta for jumbo bond

Six months after Syngenta pulled a $7 billion bond sale, its Chinese parent, ChemChina, sells the largest corporate bond sale by an Asian issuer so far this year.

China National Chemical Corporation ChemChina pulled off Asia's biggest bond deal so far this year on Wednesday, raising $6.4 billion across a range of maturities as it kick-started the stalled refinancing of its record-breaking acquisition of Swiss pesticide and chemicals maker Syngenta.

The success of the investment-grade, blockbuster Reg S deal which has five dollar tranches stretching out to 30 years and a four-year tenure denominated in euros  shows investors remain eager to use their money to help fund aggressive takeovers, bankers and investors said.

But it also shows investors' preference for only the strongest credits...

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