Another two bonds make China real estate a hot topic

Kaisa and Agile are the latest Chinese property companies to turn to offshore funding in light of tightening domestic reforms, raising $350 million and $650 million respectively. Still expected are Glorious Property, Yanlord and Aoyuan Property.

Specialists and analysts have all predicted that China property will be, again, a hot sector for the Asian bond markets this year. And the forecast is certainly panning out this quarter. Over the past week, Country Garden, Agile Property Holdings and Kaisa Group have all priced deals in the high-yield market. And, on April 14, Evergrande Real Estate B1BB executed a $600 million private placement.

Left in the immediate pipeline is Glorious Property Holdings provisional B1B, which went on the road at the beginning of this week, and Yanlord Land Group Ba2BB, which is expected to come to market this month. China Aoyuan Property Group is also expected to issue...

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