Evergrande raises $750 million from high-yield bond

EvergrandeÆs $750 million high-yield issue hits the market on a day when trading suffers in response to President ObamaÆs proposed new limits on US banks.

Evergrande raises $750 million from high-yield bond

For an outsider looking in, Evergrande's bond deal was going to be a tough sell. China has recently tightened regulations for the property sector and, in the US, the regulatory environment is closing in on banks.

Indeed, critics were a bit circumspect about the timing of the deal, but Evergrande Real Estate went ahead and priced a $750 million high-yield Reg-S bond in the early hours of Friday morning Hong Kong time, on the back of a very tough...

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