Longfor mops up Chinese property demand amid heavy bond supply, sells $750m deal
Longfor Properties showed the big demand still available for top-tier Chinese property companies last week, raising $750m despite some investors complaining about oversupply in the sector. The company drew around $7bn of orders for its international bond debut, leading to a rush of supply at the end of the week.
Citi, HSBC, Morgan Stanley and Standard Chartered managed the transaction, which was priced on March 31, as South Koreas Lotte Shopping and Hong Kong developer Kerry Properties were closing their own deals.
Analysts regard the Hong Kong-listed Longfor as one of the top property companies in mainland China, so
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.