Chinese Builder Tests Junk Demand With Highest Yield in 3 Months
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Chinese developer Times Property Holdings Ltd. is considering pricing a sale of dollar-denominated bonds at the highest yield since November.
The Guangzhou-based company, which has a B+ rating from Standard & Poor’s, the rating assessor’s fourth-highest speculative grade, plans to sell five-year notes at about 13 percent, a person familiar with the matter said. United Overseas Bank Ltd. is also offering U.S.-currency debt, marketing Singapore’s first Basel III-compliant Tier 2 bonds, while Hyundai Capital Services Inc. plans to sell three-year floating-rate securities at an about 100 basis-point spread.