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Svenska Handelsbanken Cuts Indicative Yield on Offshore Yuan Bonds to 3.00percent - 3.25 percent - reports Dow Jones news

Tuesday, 08 January 2013
Swedish lender Svenska Handelsbanken (SHB-B.SK) is seeking to sell three-year offshore yuan bonds at an indicative yield of 3.00 percent to 3.25 percent, a source familiar with the situation said Tuesday, according to Dow Jones news.

It follows that the company had earlier issued an initial indicative yield of around 3.5 percent for the offshore yuan bonds, also known as dim sum bonds. Svenska Handelsbanken is seeking to raise CNY400 million ($64.26 million) through thebond offering, the source said.
Hsbc Holdings PLC is the sole bookrunner on the deal. The issuer is rated Aa3 by Moody's Investor Services Inc., AA- by Standard & Poor's Corp., and AA- by Fitch Ratings.
News sources: Dow Jones News

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