Redco offers 11% bond to yield hungry investors

China_property_Adobe_24July
By Morgan Davis
31 Jul 2020

Redco Properties Group offered investors a hefty 11% coupon for its new bond on Thursday, using up the last of its offshore fundraising quota to raise $220m.

The high yield Chinese property company hit the market after Fitch revised its outlook to positive from stable on Wednesday. The issuer is rated B by both S&P Global Ratings and Fitch Ratings. The outlook change was triggered by Redco’s consistent growth, increased geographic diversification and superior leverage ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial