Guangzhou R&F pays up to score $425m tap

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By Morgan Davis
11 Jun 2019

Guangzhou R&F Properties Co was back in the dollar market on Monday, tapping its 8.125% 2023 bond at a generous premium in what was its fifth offshore outing this year.

The original transaction raised $450m in February, and was sold at par. The notes were trading wider at around 8.2% ahead of the tap.

But Ba3/B+/BB- rated R&F had to tread carefully. Last week, fellow Chinese borrower Ronshine China Holdings raised $235m in a tap of ...

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