Chinese duo tap dollar debt market despite distraction

As President Xi Jinping gives his keynote speech in Beijing, Tewoo Group and Maoye International issue short-dated debt, exploiting a loophole to tap international markets.

Chinese duo tap dollar debt market despite distraction

Two small Chinese companies joined a recent rush of short-term borrowings, shrugging off political distractions to raise a combined $800 million in bond issues.

Commodity trader Tewoo raised $500 million and department store operator Maoye International brought in $300 million, with both notes maturing within a year a legal way to bypass the regulatory approval process set by the National Development and Reform Commission, the watchdog for overseas debt...

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