Chinese Developers Market Dollar Notes Amid Surge in Home Prices
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Developers Cifi Holdings Group Co. and Greentown China Holdings Ltd. are marketing dollar-denominated bonds four months after selling debt as new home prices in Beijing, Shanghai, Guangzhou and Shenzhen surge.
Cifi, the Hong Kong-listed developer, is offering five-year debentures to yield about 9.25 percent while Greentown is marketing subordinated perpetual securities at a yield of about 9.25 percent also, people familiar with the matters said. China South City Holdings Ltd., the logistics company in which Tencent Holdings Ltd. said last week it would invest, is marketing five-year bonds to yield about the high 8 percent area.