Golden Wheel greases the high-yield bond market

Nanjing-based developer launches a debut dollar bond to a muted reception.

Golden Wheel greases the high-yield bond market

Chinese real estate developer Golden Wheel Tiandi raised $100 million from its first offshore bond offering on Tuesday.

The BB rated deal originated from reverse enquiry demand and was launched off the back of the positive sentiment generated by the International Monetary Fund's decision to add the Renminbi to its reserve currency basket.

It represents the fourth offering from a Chinese homebuilder in the past few weeks after B1B rated...

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