Sunshine 100 closes rare high-yield CB

Beijing-headquartered property developer printed a $200 million dollar convertible bond, offering offshore investors rare exposure to high-yield credit in the CB market.
Sunshine 100 International New Town in Tianjin, China
Sunshine 100 International New Town in Tianjin, China

Chinese property developer Sunshine 100 Holdings raised $200 million from its debut convertible bond sale on Thursday, turning to equity investors to partially refinance an existing 12.75% vanilla bond that falls due next year.

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