Beijing Properties nabs $300m from bond return

Who needs a rating? Not this Hong Kong-listed developer, which became the latest Asian issuer to take advantage of strong demand.

Beijing Properties nabs $300m from bond return

Beijing Properties, a Hong Kong-listed developer of warehouses and logistics centres, returned to the international bond market on Wednesday, raising $300 million through the sale of a three-year bullet.

The Hong Kong-listed group, which boasts Amazon and JD.com among its clients, managed to generate more than $2.6 billion of demand for its deal at the peak, although the final order book had fallen to $1.8 billion after a cut in price guidance. Some...

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