Dollar Bonds Pulled by Lippo and Wanda Units on Rising Asia Risk

Property units of Dalian Wanda Group Corp. and Lippo Ltd. have postponed dollar-denominated bond sales amid rising perceptions of credit risk in Asia ahead of a leadership meeting in China and as the U.S. recovery sputters.

Dalian Wanda, founded by China’s richest man Wang Jianlin, shelved plans to sell five-year bonds at 325 basis points more than Treasuries via unit Wanda Properties Overseas Ltd., a person familiar with the matter said today, asking not to be identified because the details are private. The company may consider an offering in the future, the person said. PT Metropolis Propertindo Utama, owned by Lippo, also postponed a proposed offering, a separate person said.