Friendly all around as China Merchants nets $290m CB

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Friendly all around as China Merchants nets $290m CB

hong_kong_property_230px

China Merchants Land has scooped $290m through a convertible bond priced in its favour, as the presence of a standby letter of credit gave comfort to investors. But the extent to which the CBs traded up following the deal suggested that the issuer could have got away with more aggressive terms.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login
Gift this article