The end of last week saw continued bond issuance from Asian property companies. But the two transactions, one high-yield and one investment grade, were a contrast in demand and performance.
First, the winner. Longfor Properties, a leading mainland Chinese firm, raised $750 million in a heavily subscribed five-year deal on Thursday.
The Regulation-S144a issue pays a 9.5% semi-annual coupon and was re-offered to investors at...