GC
Deal competition hits Yanlord as loan shrinks
Property developer Yanlord Land Group has cut the size of its fundraising to $385m from its launch size of $400m, as a combination of low pricing and competition from similar credits in the market made the deal a hard story to sell.
In the end, mandated lead arrangers and bookrunners Hang Seng Bank, HSBC and Standard Chartered kept $75m each on their books, while DBS took $50m. MLA Shanghai Pudong Development Bank took $40m, while lead arranger Tai Fung Bank was allotted $30m, according to a banker on the deal.
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