China Properties struggles to print note

Fatigue may have finally taken hold in the Chinese property sector, judging by investors’ reception towards China Properties Group’s dollar transaction.

Fatigue may have finally taken hold in the Chinese property sector, judging by investors’ reception towards China Properties Group’s dollar transaction that failed to price overnight.

China Properties launched a three-year high-yield dollar bond on Wednesday morning, hoping to entice investors with a 12.75% area offering. Come Thursday, the Reg-S deal still has not priced a possible indication that investors are reacting cautiously towards an overcrowded sector.

“There has been a reasonable amount of property supply and it’s probably the fact that there’s not an endless amount of demand right now, especially for the single B end of the spectrum,” said a Hong Kong-based investor to Finance...

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