When $8 billion of a total $13 billion demand for a Chinese property-related bond issue in Asia comes from private banks, it is time to sit up and take notice.
This happened last month when Longfor Properties, a Beijing-based real estate company founded almost a decade ago, provided the clearest indication yet of just how influential and plain big the private banking bid for corporate bonds in Asia has become.
Longfor’s $400 million RegS seven-year non-call-four deal was priced with a yield of 6.875%,
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