Shimao Property raises $800m bond

Shimao is the first Chinese developer to launch a high-yield debt offering in 2015, overcoming jitters that have plagued the sector since Kaisa’s woes.

Shimao Property raises $800m bond

Shimao Property sold an $800 million seven-year bond that is callable in year four on Tuesday evening, the first Chinese developer to tap the Asian high-yield market since the Kaisa complex plagued the sector.

The developer priced its latest Reg S-only bond at 8.375%, which is 37.5bp tighter than its initial price guidance area of around 8.75%, according to a term sheet seen by FinanceAsia. It is also at the tighter...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: shimao property | real estate | property | china | high yield

Print Edition

FinanceAsia Print Edition