Property trio snap up funds in busy market

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By Addison Gong
12 Jun 2019

Chinese real estate developers Sunac China Holdings and Yango Group returned to the offshore market on Tuesday, with the former raising a larger-than-expected $600m. Property and construction firm Jiangsu Zhongnan Construction Group Co also priced its maiden dollar bond.

Ba3/BB-/BB rated Sunac raised $600m from a three non call two bond, pricing the deal at 7.5%. The deal came 37.5bp inside the initial guidance, which was set at the 7.875% area by global co-ordinators, bookrunners and lead managers China Citic Bank International, China Industrial Securities International, Deutsche ...

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