Shui On Land debuts with property sector's first offshore renminbi bond

Property developer Shui On Land yesterday priced Rmb3 billion of three-year renminbi-denominated bonds. Investors piled into the deal, resulting in an impressive Rmb32 billion order book.

(This story has been corrected to reflect that this is not a dim sum bond tapping an offshore renminbi pool, but rather a renminbi-denominated bond that is sold offshore and settled in US dollars.)

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