Evergrande extends equity-linked craze

Booming market gets another boost as China’s third-largest home seller pulls off $2.3 billion convertible bond issue. But lacklustre demand initially saw the deal undergo a last-ditch restructure.

Evergrande chairman Hui Ka Yan became China's second richest man after his stock rose fivefold in the past 12 months.

Danny Leung

January 31, 2018

China Evergrande Group is the latest to join the convertible craze after the highly-leveraged home seller raised HK$18 billion ($2.3 billion) from a five-year issue on Tuesday, becoming the fifth Chinese property developer to tap the primary market this month.

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