Shui On breaks property supply silence

The Chinese developer launches a $500 million high-yield bond, defying global investor fears towards mainland China's fragile property market.

Shui On breaks property supply silence

Shui On Land raised a $500 million three-year note late on Monday, breaking a recent drought in the supply of Chinese property-related high-yield paper.

With investors cautious about the outlook for China's real estate market, the Hong Kong-listed developer paid up a little for the privilege based on where its outstanding bonds were trading. 

“The bond looks attractive compared to Shui On’s existing curve given the pick-up to its longer-dated...

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