Wanda breaks G3 silence with $600m note

The Chinese property and entertainment conglomerate sold a dollar bond in its second attempt, offering investors a higher yield to compensate for additional risk.

Wanda breaks G3 silence with $600m note

Wanda Properties Overseas raised a previously postponed debut $600 million five-year senior unsecured bond on Thursday, compensating investors with a higher pricing the second time around amid speculation that the Federal Reserve Fed will begin its tapering next month.

The company sought to price the Reg S note to a yield of Treasuries plus 387.5pp, up from the 325pp offered on November 7 which was deemed too aggressive but ended up pricing the deal 12.5bp...

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