The China Resources Group is cashing in on the latest bout of red-chip fever to hit the loan markets. A number of red chips, such as Shenzhen Investments, CNPC, Cofco, Citic Pacific and Shanghai Industrial Investments have tapped the loan markets in the last few months.
For the China Resources Group itself, ABN AMRO launched a $70 million equivalent three-year yen loan for All Seasons Property Co., its Thai joint venture with M Thai Group. The All Seasons Property deal paid an all-in of 50bp over Libor. China Resources Holdings guaranteed the deal.
Now it is the turn of China Resources Land, one of the biggest property developers in Beijing. China Resources Land is...
