Zhuhai Huafa sells $235m offshore renminbi bond

The Chinese real estate developer raises Rmb1.5 billion via a three-year note, offering a coupon rate of 5.25%.

Zhuhai Huafa, a real estate developer in the city of Zhuhai in Guangdong province, returned to the offshore renminbi bond market on Wednesday, raising Rmb1.5 billion $235 million through the sale of another three-year note.

The bond was sold with a coupon rate of 5.25%, unchanged from initial price guidance, after drawing Rmb2.5 billion-worth of orders, according to two people familiar with the transaction.

“We feel happy about the final results after marketing the deal for three months,” said a Hong Kong-based banker familiar with the deal, describing the final size of the order book as better than expected, given Zhuhai Huafa's credit profile and...

¬ Haymarket Media Limited. All rights reserved.

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