Indebted Sunac China works hard to sell $1b bond

The Chinese property developer offered an attractive pickup versus Evergrande to attract yield-hungry investors and hired an array of bankers to eke out $2.2b worth of demand. Still the bonds traded down in the after market.

Sunac China knew it would be hard work to sell $1 billion-worth of bonds given the recent scrutiny of its string of acquisitions, the fact it was on credit-watch negative and an eye-popping leverage ratio. So it took no chances.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media