KWG pays up for $350 million bond

Brace yourself for more new issues. A flurry of investor meetings for Megaworld, Winsway and Woori Bank are set to hit the market.

KWG pays up for $350 million bond

On Wednesday night, PRC real estate developer KWG Property priced a $350 million five-year non-call three bond. The notes were bid at 100.375 in secondary markets yesterday, slightly above the par issue price.

The company offered investors an attractive new issue premium a sign that China property issuers need to pay up if they want to raise funds. The guidance was for a yield in the 12.75% area and that was where the...

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