South korea amassed a record order book for the first sovereign Panda bond offering last week in a deal with an unconventional syndicate that left Chinese and foreign banks competing for bragging rights as more borrowers prepare to tap the nascent market. South Korea's Rmb3bn (USS465m) three-year print, the biggest Panda offering this year, attracted an order book of Rmb12.84bn after more domestic investors dipped their toes into the recently opened market. Final pricing hit 3%, the low end of an indicative range of 3.0%-3.5%.
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