Cracks appear in Shimao's dollar bond outing

By Morgan Davis
09 Oct 2018

Turbulence in China’s equities and bond markets forced Shimao Property Holdings to cull one portion of a dual-tranche dollar bond deal this week as investors shied away from the longer tenor.

Global co-ordinators Goldman Sachs (Asia), HSBC and Morgan Stanley began marketing a three year non-call two bond at 6.375% area and a long five year non-call three note, maturing in 2024, at 7.125% area, on Monday morning local time. The Chinese issuer was looking to use some of ...

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