Shimao joins Chinese developers’ bond rush

The Hong Kong-listed real estate company is the latest mainland developer to tap offshore bond markets as Chinese banks become more selective in extending credit, especially to high-yield names.

Shimao Property raised a $600 million seven-year note on Tuesday, joining the flurry of Chinese developers that have tapped the market this year amid tighter onshore banking liquidity and a potential rise in interest rates.

¬ Haymarket Media Limited. All rights reserved.

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