Guangzhou R&F prices first renminbi-dollar dual-tranche bond

Guangzhou R&F, a leading Chinese property developer, raises $550 million in dual-tranche notes denominated in both renminbi and dollars.

Guangzhou R&F prices first renminbi-dollar dual-tranche bond
R&F City Villa, the first project R&F Properties undertook in Beijing

Guangzhou RF, a leading Chinese property developer, raised $550 million last week in the first ever dual-tranche US dollar and offshore-renminbi CNH bond deal. Although both tranches were oversubscribed, the bigger size of the CNH offering gave an indication of where the predominantly Asian investor base saw the best value. In contrast, the dollar notes offered limited potential upside.

The joint global coordinators for the transaction were Credit Suisse and Goldman Sachs, and Citi...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES