Taking advantage of the Chinese government’s more liberal approach towards private financing, a Wanda Group unit issued its first offshore bond since July 2016, which was lapped up by investors.
Since 2016, the Chinese government has tightened restrictions on the expensive overseas acquisitions of large private Chinese firms like Wanda and HNA Group. It was alarmed by soaring corporate debt and the potential flight of capital. But with more recent concerns over financial difficulties in the private sector, Chinese authorities have switched course and allowed companies to pursue offshore funding.
The Reg S offshore US dollar bond from Wanda Properties Global,...
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