Chinese developers' bonds boosted by rate cut

Logan Property and Yuzhou Properties collectively raise $500m, while China Sunac markets a five-year callable bond.

Chinese developers' bonds boosted by rate cut

Chinese developers Logan Property and Yuzhou Properties each raised a $250 million bond on Monday night, taking advantage of improved investor confidence in the country's property sector following the recent rate cut from People’s Bank of China.

Logan priced its three-year offering at 9.75%, which is 25 basis points tighter than its initial price guidance, while Yuzhou priced its five-year note callable in year three at 9%, which is also 25bp tighter that initial price...

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