Xinhu Zhongbao seals $200m club-like deal
Chinese real estate developer Xinhu Zhongbao Co sold a club-style dollar bond on Tuesday, becoming one of the few Asian issuers to have come to the market in recent days. While a pipeline of deals builds up, many are unwilling to launch transactions amid the volatility.
Xinhu Zhongbao’s B- rated $200m transaction was a club-like trade, far from the market-opening deal that Asian borrowers had been waiting for, said bankers away from the issue. China Citic Bank International and CNCB Capital were the global co-ordinators. ABC International and CCB International were bookrunners....
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