New World China bucks trend, turns to dim sums

The China property flagship of New World Development raises Rmb3 billion and lowers its coupon.
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New World Hotel Wuhan
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<div style="text-align: left;"> New World Hotel Wuhan </div>

Chinese property developers have hit the dollar bond market in a serious way this year — with no fewer than 17 developers raising $6.1 billion in January. But New World China Land late Wednesday night bucked the trend and turned to the dim sum market to close a Rmb3 billion ($482 million) bond.

¬ Haymarket Media Limited. All rights reserved.

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