Chinese Builder Debt Hasn't Been This Hot in Three Years: Chart
(Bloomberg) -- Chinese property developers are setting the onshore bond market on fire as cheaper funding costs lure them in droves amid easing measures by the authorities. Domestic bond issuance by builders surged to 93 billion yuan ($14 billion) in January, while about 7.3 billion yuan worth of notes are set to be sold this week, according to data compiled by Bloomberg. Investors are buying the debt amid bets that builders’ credit profile will steadily improve as cheaper financing conditions help them beef up their balance sheets, said Lv Pin, a bond analyst at Citic Securities Co.
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