BONDS: Yingkou Port Raises Rmb1.2bn Via 8yNP5 Corp Bond
Shanghai listed YingKou Port has priced its Rmb1.2bn eight-year non-put five fixed-rate corporate bond issue at 5.9% after bookbuilding on March 1. The result arrived at 355bp over the one-year Shibor, which was at the low-end of the indicative range of 5.9% to 6.2% in nominal terms. Given the official bank lending rate of around 5.94% for tenors of five years or above, the bond yield translated into some savings in interest expenses for a possible extension of three years in tenor.
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