Hopson defies critics with high-yield debut

Despite market murmurs, CSFB brings successful maiden high-yield bond for Chinese developer.

Hopson Development completed a well executed debut high yield bond early Thursday morning November 3 via Credit Suisse First Boston. Both the issuer and lead manager had a lot to prove with the $300 million seven-year, non-call five deal.

Many market players had been skeptical that a BBBa1 SPMoody's deal for a Chinese property developer could succeed in the existing weakened market - US Treasuries have surged to 4.60% recently, nearing their year-to-date...

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