China Resources Land returns with $250 million tap

China Resources Land returns to investors with a $250 million tap that offers a hefty new-issue premium.
<div style="text-align: left;"> A construction worker in China, where policymakers have been trying to rein in soaring property prices (AFP) </div>
<div style="text-align: left;"> A construction worker in China, where policymakers have been trying to rein in soaring property prices (AFP) </div>
July 28, 2011

China Resources Land (CRL) returned to the market yesterday with a $250 million tap on its recent $750 million five-year bond, which priced in May, increasing the total issue size to $1 billion. HSBC was a global co-ordinator. HSBC, BOCI and DBS — the same arrangers for the deal in May — acted as joint bookrunners.

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