NDRC tightens screws on Chinese property firms

By Addison Gong, Silas Brown
15 Jul 2019

China’s National Development and Reform Commission (NDRC) has tightened restrictions on Mainland property companies raising offshore bonds, prompting DCM bankers to take stock and determine the impact on the debt market.

The NDRC, which regulates offshore bond deals from China, said last Friday that property developers can only issue foreign currency bonds to refinance mid to long term debt that is due within the next 12 months. Chinese developers looking to issue bonds need to register with the NDRC ...

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