Soho China raises $1 billion from debut high-yield bond

International investors jump at the chance to buy the deal, prompting the company to add a 10-year tranche.

Soho China's husband-and-wife founders, Pan Shiyi and Zhang Xin

Chinese property developer Soho China raised $1 billion through the sale of a high-yield bond on Wednesday night, following in the footsteps of several other Chinese builders.

The company announced in the morning that it would issue a single five-year tranche, with initial price guidance of around 6.25%, but added a 10-year tranche after the lead banks...

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