Zhenro, Orient brave tumultuous market

China stock market random 150 x 230
By Addison Gong, Morgan Davis
14 Aug 2019

Zhenro Properties Group returned to the dollar bond market for the seventh time this year on Tuesday, tapping one of its March transactions for an additional $110m. But the market presented a whole different set of problems for the borrower this time round.

The original deal, a $200m 9.15% 2022 transaction, was sold in early March at a cash price of 97.968. It was led by global co-ordinators BNP Paribas, CCB International, CEB International, CLSA, CMB International, Deutsche, Guotai Junan International, Haitong International, HSBC and Standard Chartered.

But ...

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