CoGard nabs $1bn after huge bond demand

China property_Adobe_23July
By Morgan Davis
29 Jul 2020

Country Garden Holdings Co, one of the biggest Chinese high yield property borrowers, returned to the bond market with a dual tranche deal on Tuesday, raising a combined $1bn from the transaction.

The company is a well-known among dollar bond investors, being widely regarded as one of the strongest credits in China’s property sector. Unlike most of its high yield-rated peers, Country Garden boasts a Ba1/BB+/ BBB- rating. The cross-over rating is a major boost for the company when it ...

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