Powerlong bonds trade thinly over pipeline concerns

Chinese property developer Powerlong’s new synthetic renminbi bonds traded higher in the secondary market yesterday but thinly. Onlookers believe the heavy pipeline from Chinese real estate companies will place pressure on existing debt.

  • 09 Mar 2011
Property company Powerlong’s new Rmb750 million (US$114 million) 11.5% three-year renminbi-denominated dollar-settled synthetic bonds traded up yesterday (March 9) morning on the back of thin trading, but it looks likely to prove an exception as investors largely keep their money back over concerns about more mainland real estate bond ...

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