BONDS: Panzhihua City State Assets to price Rmb600m 10yNP5
Sichuan-based Panzhihua City State Assets Investment Management has priced a Rmb600m (US$88m) 10-year non-put five at 5.14%, at the low-end of the indicated range of 280bp-380bp over the one-year Shibor, with a possible coupon step-up of up to 100bp if not put.
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