Shimao jumps at 10yr tenor for new bond

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By Alice Huang
07 Jul 2020

Shimao Group Holdings offered bond investors a rare 10 year tenor from the Chinese property industry, pricing the $300m deal inside of fair value.

The Ba1/BB+/BBB- rated developer was last seen in the offshore market with a $1bn 5.6% 2026 paper in July 2019. But for its Monday deal, the company chose a 10 non-call five year tenor.

There are only two other Chinese property companies that have outstanding 10 year dollar ...

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