Chinese property developer Powerlong Real Estate Holdings returned to the international bond markets for the first time since 2013 on Thursday with a new issue to re-finance an earlier deal.
The B3B- rated $200 million transaction represented the third offering from a Chinese property company in as many weeks. However, the three-year Reg S deal did not attract the same high level of demand as its predecessors, with the order book closing just above $800 million, according to sources close to the deal.
Recent deals by Future Land and Beijing Properties both achieved order books in excess of $2 billion but the drop-off in demand...
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