Property News · June 29, 2017

China Evergrande’s US$6.6b bond rattles markets, prompts round of head-scratching


China Evergrande Group has come under the spotlight after it issued a US$6.6 billion bond last week, the largest US dollar bond ever completed in Asia, even as the debt-laden property giant has vowed to deleverage.
Evergrande, the country’s largest, yet most indebted developer with a debt-equity ratio over 400 per cent, in March pledged to start deleveraging and has since repaid 70 per cent of its outstanding high-interest perpetual bonds.
Analysts said the fund raising could be a pre-…

Source : South China Morning Post
Read more…China Evergrande’s US.6b bond rattles markets, prompts round of head-scratching

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