Modern Land sells maiden $150m note

The property developer is the latest company to join the flurry of Chinese real estate companies that have come to international markets, offering investors attractive returns.

Modern Land sells maiden $150m note

Modern Land has priced a $150 million five-year note with a callable option in the third year, offering investors an attractive yield pickup amid investor fatigue for China property names, according to a term sheet seen by FinanceAsia.

The B2B rated Reg S registered transaction was executed within 10 hours and is well-timed given that 10-year US Treasury yields have hit a three-month low to 2.48%, according to a source close to the...

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