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China's Chexim lowers guidance for $1 billion 10-year bonds to Treasuries plus 85 to 87 bps
By Reshmi Basu
New York, July 13 - Export-Import Bank of China lowered price guidance for its $1 billion offering of 10-year senior fixed-rate notes (A2/BBB+) to Treasuries plus 85 to 87 basis points from 87 to 92 basis points, according to market sources.
Pricing is expected on Thursday.
BNP Paribas, Citigroup, HSBC and Merrill Lynch & Co. are joint lead managers and joint bookrunners. Bank of China International and Goldman Sachs & Co. are also acting as joint lead managers.
The issuer, based in Beijing, is a policy-oriented bank owned by the Chinese government.
The book is more than four times oversubscribed, said sources.
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