Chinese issuers have begun going back to the dim sum bond market despite China’s move to rein in capital outflows and increasing uncertainties in the market itself.
This year, China constricted regulations on cross-border capital outflows to beef up the yuan despite degenerating economic growth.
Fantasia Holdings unveiled it would release worth of senior notes maturing in 2019, which amounts to 600 million yuan ($92 million) and hold a coupon of 9.5%.
This will be the first time the Chinese property developer will market an offshore renminbi bond in Hong Kong.
According to Dealogic, Chinese developers only released five dim sum bonds in 2015 from 15 in 2014.
The material has been provided by InstaForex Company – www.instaforex.com