RiseSun, Tongchuangjiuding add to HY supply

China_property_Adobe_10June
By Alice Huang
14 Jul 2020

Chinese high yield names continued to flow into the offshore market this week. Property developer RiseSun Real Estate Development Co took $250m from a 364-day bond, and financial firm Tongchuangjiuding Investment Management Group Co raised $300m.

Ba3/BB-/BB- rated RiseSun issued a similar 364-day paper in January. It opted for the sub one-year tenor yet again on Monday as it does not have any regulatory quota left to raise money in the international market, said a syndicate banker on the deal.

Bonds with tenors ...

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