China South City pays hefty yield for $175m bond

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By Morgan Davis
03 Mar 2021

A significant widening of China South City Holdings’ dollar bonds issued in January forced the company to offer a juicier yield for its return to the international market this week.

The borrower raised $120m from a 10.75% April 2023 transaction during the first week of the new year. But since then, the notes have widened with other B rated names, pressured by market volatility and liquidity challenges faced by low rated property companies.

Against that backdrop, ...

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