Shui On returns with 'investor-friendly' bond

The Hong Kong-listed property company's $500 million bond offered an attractive new-issue premium to investors.

Shui On returns with 'investor-friendly' bond

Asia’s dollar bond issuers have gotten away with razor-thin new issue premiums this year, making the most of buoyant liquidity after a slow-down in bond buying late last year. But when Chinese property company Shui On Land came to the market at the start of this week, it offered a double-digit premium to investors.

That looked a wise choice, helping the company generate a whopping $3.3 billion of demand for its bond. This was despite...

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