Chinese developers including Country Garden Holdings Co. and Longfor Group Holding Ltd. to sell on shore bonds combined 18 billion yuan, according to official registration system as reported by Reuters.
Early this year Chinese authorities has put financial curbs on the real estate industry after China Evergrande Group triggered sector wide liquidity crunch.
However, in recent weeks Chinese authorities relaxed some of its tougher stance to boost liquidity in the sector otherwise which could have paralyzed the entire sector.
According to the filing system of China’s interbank debt markets, complied by Reuters, Country Garden Real Estate Group which is under direct control of Country Garden Holdings is reported to issue medium term notes worth 5 billion yuan.
Chongqing Longhu Enterprise Development Co, the main platform of Longfor Group plans to raise fund by issuing 3 billion yuan of bond.
State owned China Overseas Enterprise Development Group Co aims to issue three tranches of debts totaling 10 billion yuan, according to the registration filing as reported by Reuters.
Official China Securities Journal Reported on Wednesday, corporate bonds issued by Chinese real estate developer nearly tripled in November compare to October reaching 37.1 billion yuan.
