Xinyuan sells $300m bond at initial guidance

China_property_Adobe_26July
By Alice Huang
11 Sep 2020

Chinese property developer Xinyuan Real Estate Co, whose outstanding bonds have suffered because of the Covid pandemic, opted for size over price for its $300m return this week.

Thursday’s outing was the real estate firm’s first dollar trade this year. Xinyuan returned to raise funds to meet the remaining $298.4m of obligations on its 8.875% notes due on November 22.

The leads began marketing the three non-put two year bond at the 14.5% yield-to-put area.

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