Fatigue sets in for China property bonds

As Longfor Properties becomes the 13th Chinese property developer to tap the dollar bond market, fatigue has set in.

Fatigue sets in for China property bonds
Investors are losing interest in Chinese property

Fatigue has finally taken hold in the Chinese property sector, judging by the reception that recent bond deals have received from investors.

On Tuesday night, Longfor Properties tapped the market with a $500 million 10-year non-call deal, after attracting a book of $1.75 billion. The bonds were initially marketed at the 7% area, which was revised to 6.625% to 6.875%, with the bonds pricing at the mid-point at 6.75%.

Longfor is one...

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