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...
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