Evergrande sells downsized $1b bond

The Chinese developer launches first single-B rated bond of 2015 at a fixed-rate of 12% but failed to garner enough demand for its original target size of $1.5 billion.

Evergrande Real Estate sold a downsized $1 billion five-year bond on Tuesday night that is callable in year three, signalling continued poor investor sentiment towards the broader Chinese property sector despite ebbing concerns towards Kaisa.

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