State Grid Corporation of China to list Rmb14.1bn dim sum bonds on HKEX
It is the largest dim sum bond issuance by a SOE this year.
The State Grid Corporation of China, a global utlility giant, is issuing new multi-tranche CNH-denominated dim sum bonds which are expected to be list on the Hong Kong Stock Exchange (HKEX) on August 21.
The offering comprises five-year, 10-year and 20-year tranches totalling Rmb14.9 billion ($2.21 billion), and is the largest dim sum bond issuance by a state-owned enterprise so far this year. The fivc-year tranche is understood to be for Rmb3.9 billion at 1.86%; the 10-year tranche is for Rmb7 billion at 2.18%, and the 20-year tranche is for Rmb4 billion at 2.46%, according to International Financing Review.
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