Yuzhou finds 36 times the demand needed for bond
Yuzhou Properties became the latest mainland property company to find strong demand for a high yield bond this week, drawing $9bn of orders for a deal that was worth just $250m.
The company, rated B1/B+ by Moodys and Standard & Poors, priced the five year non-call three notes on Wednesday at 11.95%, the lower end of price guidance. The bond was priced well inside its own curve, as well as inside the recent deal from rival Sunac China Holdings."Yuzhou ...
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