Glorious Property Mulls Dollar Bond as S&P Raises Sector Outlook
This article is for subscribers only.
Glorious Property Holdings Ltd. is considering selling dollar-denominated debt after Standard & Poor’s said the outlook for the Chinese real-estate sector had improved. Asian bond risk fell.
The developer, founded by Chinese billionaire Zhang Zhi Rong who resigned as chairman in November, plans to meet investors in Hong Kong tomorrow and in Singapore on Feb. 22 to discuss a possible note sale, according to a person familiar with the matter. S&P revised its outlook on China’s residential property market to stable from negative to reflect financing and operating conditions for the next six to 12 months, the company said in an e-mailed statement today.