Gazprombank, Russia’s third largest bank, has raised Rmb1 billion from the Hong Kong dim sum market and sold the highest percentage of notes to Europe in the offshore market.
The lender priced the 3-year bonds at 4.25% after conducting a 4-day roadshow in Asia together with an investor call, which generated good anchor demand and shaved 125 basis points off the initial price guidance of 4.375%.
The book received total orders of Rmb2 billion from 67 investors, including funds and asset management companies 45%, private banking clients 42%, banks 7% and others 6%.
What’s interesting is that investors from Europe...
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