Chinese developers extend equity-linked hot streak

In January alone, equity-linked deals have raised more than half last year's total. Future Land and Powerlong are the latest, shunning straight bonds to capitalise on property sector strength.

Chinese developers extend equity-linked hot streak

What a difference a few months make to the equity-linked market.

Two Chinese real estate developers with similar credit profiles raised a total of $555 million through short-dated convertible bond sales on Monday, extending a dramatic streak of equity-linked issuance in Asia ex-Japan since the beginning of the year.

Both Future Land Development and Powerlong Real Estate found success for their respective bond offerings on the back of the property sector’s strength...

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