Hopson defies critics with high-yield debut

Despite market murmurs, CSFB brings successful maiden high-yield bond for Chinese developer.

Hopson Development completed a well executed debut high yield bond early Thursday morning November 3 via Credit Suisse First Boston. Both the issuer and lead manager had a lot to prove with the $300 million seven-year, non-call five deal.

Many market players had been skeptical that a BBBa1 SPMoody's deal for a Chinese property developer could succeed in the existing weakened market - US Treasuries have surged to 4.60% recently, nearing their year-to-date record high of 4.65%.

A number of observers also deemed it risky taking this kind of deal into the high-yield market so soon after Shanghai-based property developer Fosun Group pulled its...

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