Panda disaster: Country Garden bottles onshore bond comeback

china property px230
By Noah Sin
25 Jan 2018

Chinese property developer Country Garden Holdings was forced to pull a Rmb1.8bn ($281.2m) three year Panda bond this week after investors demanded a better return amid rising volatility, writes Noah Sin.

There are few issuers who know the Panda market better than Country Garden, which has raised Rmb21bn across six deals in the asset class since 2015, according to GlobalRMB data. But it has never sold a Panda in the interbank bond market — the larger and more liquid segment ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial