Evergrande floods market with $6bn of bonds

By Morgan Davis
23 Jan 2020

Hengda Real Estate Group Co, a subsidiary of China Evergrande Group, raised $4bn across two tranches on Tuesday, just days after Evergrande nabbed $2bn from another bond sale.

Parent Evergrande was in the market last week with a $1bn 11.5% 2023 bond and a $1bn 12% 2024 note. They were trading at a bid yield-to-call of 11.218% and 11.871%, respectively, ahead of the Hengda trade.

Evergrande has $1.8bn of bonds maturing in 2020, according to Nomura. To ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial