Modern Land sells maiden $150m note

The property developer is the latest company to join the flurry of Chinese real estate companies that have come to international markets, offering investors attractive returns.
The deal traded up to 102.25 in secondary markets, indicating continued strong demand for Chinese real estate credits.
The deal traded up to 102.25 in secondary markets, indicating continued strong demand for Chinese real estate credits.
October 30, 2013

Modern Land has priced a $150 million five-year note with a callable option in the third year, offering investors an attractive yield pickup amid investor fatigue for China property names, according to a term sheet seen by FinanceAsia.

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