China Builder Seazen Becomes First Repeat User of Debt Guarantee
- Seazen plans yuan note that would be its second under scheme
- State guarantees for some builder bond sales emerged in August
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A Chinese scheme to help staunch a liquidity crunch among developers is set for an important expansion, as builders continue to struggle with a property debt crisis that has dragged on the world’s second-biggest economy.
For the first time, a developer that was among a small group of property firms to issue local bonds with state guarantees under a program that emerged in August is coming back with another such offering.