Aoyuan’s $200m bond falls as market dips

China property_230px
By Morgan Davis
03 May 2018

China Aoyuan Property Group’s $200m bond dropped sharply in the secondary market on Thursday as global markets wreaked havoc on the company’s notes.

The developer’s Wednesday outing proved to be ill-timed, as global emerging market outflows made headlines, fuelled by rising US Treasury yields and the stronger dollar. Aoyuan felt the impact. Its $200m 7.5% three year non-call two bond was dragged nearly 50bp wider in secondary markets just before lunch, ...

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