China State-Run Developers to Sell Yuan Debt in Easing Sign
- Three firms plan to raise $1.3 billion in interbank market
- Authorities are likely to ease curbs on debt sales, media say
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Chinese state-owned developers are about to test investor demand for yuan bonds with a flood of issuance.
China Merchants Shekou Industrial Zone Holdings Co., Poly Developments & Holdings Group Co. and Bright Real Estate Group Co. received approval to sell a combined 8.6 billion yuan ($1.3 billion) of local bonds on the interbank market this week. If successful, that would make November the strongest for issuance in eight months.