Hang Lung reignites unrated space

Hong Kong-listed Chinese developer raises a $500 million seven-year note, reviving the region’s unrated space amid improving market confidence.

Hang Lung reignites unrated space

Hang Lung Properties, a real estate group with operations in Hong Kong and mainland China, issued a $500 million seven-year bond on Wednesday, revitalising Asia’s unrated space as confidence returns to the region.

The Reg-S bond, a drawdown off the developer’s $3 billion medium-term note programme, attracted an order book of $1.9 billion from more than 110 accounts, indicating strong investor interest for unrated names.

The Asian debt capital market has been...

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