High-rise demand for Aoyuan dollar bond

The Guangzhou-based property developer's US dollar offering builds a sizeable order book amid a drought of Chinese paper.

High-rise demand for Aoyuan dollar bond

Guangzhou-based China Aoyuan Property Group raised $250 million from the dollar-denominated bond market on Monday, achieving tight pricing thanks to a supplydemand imbalance in offshore Chinese credit.

The B2B1B rated property developer captured a sizable order book of $2.1 billion for its Reg S deal, suggesting demand for Chinese assets remains as strong as ever.

The three-year issue represents the first Chinese deal in more than two weeks. It...

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