SF Express, sometimes dubbed the Chinese version of Fedex, plans to start pitching its maiden dollar bond sale to investors on Monday, as the country's largest express delivery company by revenue seeks to build up its integrated air, ground and information networks.
The planned Reg S sale will take place against a backdrop of choppy markets as investors fret about the rising credit risk in China following a steady rise in defaults. According to a Standard Chartered report in May, nine companies have defaulted on their onshore bonds this year. The value of the defaulted bonds rose 32% year on year.
Investors may still lend an...
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