RiseSun, Tongchuangjiuding add to HY supply

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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