China Merchants sells $500m bond

The Chinese bank prices the instrument inside its existing bond curve, obtaining an order book in excess of $2.5 billion despite rising US Treasury yields.

China Merchants Bank sold a $500 million three-year debt instrument on Friday morning, pricing the note at the tighter end of the final price guidance as investors clamoured for the offering at zero new issue premium.

¬ Haymarket Media Limited. All rights reserved.

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