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APAC Chart of the Week: Evergrande, Kaisa, Sunac lead USD HY bond issuance volume from Chinese developers

China Evergrande Group continued to top the USD high-yield bond-issuance volume chart for Chinese real-estate developers in 2020 YTD, raising USD 6bn from just two deals in January, while Kaisa Group came in second with USD 3.25bn and Sunac China claimed the third spot with USD 2.36bn.

In the same period last year, Evergrande came on top in the sector by printing USD 6.9bn, followed by Sunac China (USD 3.6bn) and Yuzhou Group (USD 3.25bn).

Six of the top 10 Chinese HY real-estate issuers exceeded their respective issuance volumes in 2019-to-date, although the overall volume from the sector fell 16.4% YoY to USD 57.54bn in 2020 YTD. These include Kaisa, China Fortune Land Development, Fantasia Holdings Group, Seazen Group, Central China Real Estate, and CIFI Holdings Group.

Fantasia registered the largest YoY increase in volume, more than doubling the amount to USD 1.72bn in 2020 YTD from USD 750m in the same period last year. Greenland Holdings Corp recorded the largest YoY decline of 37.5% to USD 1.7bn in YTD 2020 from USD 2.72bn in the same period in 2019.

Jason Huang-Jones APAC Data Manager Debtwire
Jason Huang-Jones APAC Data Manager Debtwire

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