Chinese property wide open, but fractured

Chinese property developers now have a bond market that most bankers cautiously say is open. But issuers got a glimpse this week of how fractured the market remains. The two mainland property deals that had priced by Thursday generated $2.2bn of demand between them — but only 10% of the orders went to the lower-rated name.

  • 11 Oct 2012
Sunac China Holdings and China South City both tapped the market this week, and Longfor Properties was selling its own deal as EuroWeek Asia went to press on Thursday evening. The high yield bond market is clearly open to Chinese developers, but the difference between what investors will ...

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