North Star adds some sparkle to Chinese bonds
Beijing North Star, the Chinese property developer, sold a Rmb1.7bn ($249m) domestic bond on Friday (July 18), drawing orders from both retail and institutional buyers in a rare corporate bond from China’s cash-strapped property sector.
The five year deal, split between institutional and retail accounts, paid 8.2% and had a one-time put option after three years. It was managed by UBS Securities,
the Swiss banks joint venture with mainland brokerage Beijing Securities.The Rmb3.6bn book was built over two days. It was opened to institutional
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