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China Daily | Updated: 2013-09-12 07:53
Cifi Holdings offers dollar junk debt
Cifi Holdings Group Co, a Shanghai-based Chinese builder, is marketing more of its existing bonds due April 2018, the first offering of Asian junk debt in the US currency in almost two months. The developer, whose contracted sales surged 78 percent in the seven months through July, plans to offer $225 million more of the notes at 104 cents on the dollar, according to an e-mailed note from Nomura Holdings Inc. Indonesia's PT Multipolar was the last company from the region to sell high-yield debt in dollars, pricing $200 million of 9.75 percent securities on July 18, Bloomberg data showed.
Shadow banking surges in August
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