Fantasia returns to G3 bonds

The Hong Kong-listed property group returns to the US dollar bond markets after funding costs fall.

Hong Kong-listed Fantasia returned to the international bond markets for the first time in just over a year on Tuesday, raising $400 million through the sale of a five-year non-call three bond.

It was a pretty smooth deal given its relatively small in size, said one syndicate banker. The new print was a investor-friendly one.

This was not that surprising given the secondary market backdrop of widening spread levels, but the deal nevertheless showed how far Chinese property companies have returned to favour with international investors over the past year.

Last June Fantasia raised $200 million from a three year-deal that carried an 11.5%...

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