China property firms produce flurry of deals

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By Morgan Davis
04 Dec 2019

Three Chinese property names hit the bond market on Tuesday, raising a combined $1.624bn in a mix of senior and subordinated trades.


China Resources Landoffered investors a subordinated perpetual bond, a decision that drew buyers’ attention, with the book nearly four times covered at its peak.

The Baa1/BBB+/BBB+ rated borrower has only sold a handful of dollar deals, with the most recent being an $800m dual-tranche trade in February. ...

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