Beijing Properties nabs $300m from bond return

Who needs a rating? Not this Hong Kong-listed developer, which became the latest Asian issuer to take advantage of strong demand.

Beijing Properties, a Hong Kong-listed developer of warehouses and logistics centres, returned to the international bond market on Wednesday, raising $300 million through the sale of a three-year bullet.

The Hong Kong-listed group, which boasts Amazon and JD.com among its clients, managed to generate more than $2.6 billion of demand for its deal at the peak, although the final order book had fallen to $1.8 billion after a cut in price guidance. Some 60 accounts participated in the transaction, according to bankers running the deal.

Beijing Properties is partly owned by Beijing Enterprises Group BEG, a state-owned investment conglomerate that controls eight Hong Kong-listed...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222