Default Jitters in China's Bond Market Are Crimping Note Sales
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Investors in China’s yuan-denominated corporate bonds are getting pickier in the wake of a recent slew of payment failures.
Beijing Orient Landscape & Environment Co. said Monday it sold just 50 million yuan ($8 million) of three-year bonds instead of an earlier plan to raise no more than 1 billion yuan. Last Friday, Shenzhen Investment Holding Co. issued 1.3 billion yuan, way below its target of 4 billion yuan.