January still has a way to go and Chinese property developers have already issued more than $10 billion of offshore bonds, roughly double the monthly average of $5.5 billion.
“Particularly in the past two weeks, there has been a big increase in issuance of US dollar offshore bonds by Chinese developers,” Franco Leung, managing director of Moody’s an international rating agency, told FinanceAsia.
Only yesterday January 20 for instance, two Chinese developers listed in Hong Kong, DaFa Properties and SOCAM Development, announced plans to tap the bond markets. On January 16, China Evergrande Group, China’s biggest developer by sales, maintained the momentum by raising...
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