High-yield back as Yuzhou closes heavily subscribed bond

Fujian-based developer Yuzhou Properties attracts a $9 billion book for its $250 million high-yield bond.

Yuzhou Properties demonstrated last night that the high-yield market is alive and kicking after pricing a $250 million deal.

The five-year non-call-three bond priced at 11.95%, at the tight end of the 12% plus or minus 5bp final guidance and a significant 55bp inside the initial guidance of 12.5%.

The deal attracted an order book of $9 billion 35 times more than was on offer. Bankers away from the deal have commented...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...