Chinese property undaunted, but weak liquidity worries bankers

The January juggernaut has started to take its toll on the bond market, with deals struggling to perform amid a swarm of transactions. Chinese property issuers saw no need to postpone their plans, however. Fantasia Holdings closed a $300m bond on Thursday, and Yuzhou Properties opened books on its own deal on Friday. But debt bankers warned that new issue premiums will have to rise as the rush shows no signs of stopping, and some are worried falling liquidity could prompt widespread repricing.