Agile’s bond takes a hit in secondary

By Morgan Davis
24 Jun 2020

Chinese property company Agile Group Holdings’ new $500m bond tumbled in the secondary market on Wednesday after the firm took an aggressive approach to pricing.

The transaction was Ba2/BB rated Agile’s first dollar bond sale of the year, following five outings in 2019.

The company had $983m of offshore issuance quota before the $500m sale on Tuesday, which will go towards refinancing. Agile’s $500m 9% bond matured in May, and it ...

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