07.11.2012 - Investors get pickier on Chinese property bonds
Even in the booming market for bonds in Asia this year, investors are finally showing signs that they won’t pay just any price. That has been especially true of Chinese property bonds issued in the past few weeks. One example is the US$1 billion bond from Soho China Ltd., one of the country’s best-known developers, sold last week. The bond—the largest on record by a Chinese developer—was oversubscribed by more than seven times by high-net-worth investors and fund managers, even though yields were much lower than on other noninvestment-grade property bonds...............................................Full Article: Source
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