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China Daily | Updated: 2013-10-29 07:26
Modern Land markets bonds
Modern Land China Co is marketing a sale of US dollar-denominated notes after investors withdrew a record amount from emerging-market corporate bond funds. The Beijing-based developer is offering five-year securities at a yield of about 14 percent, a person familiar with the matter said. Offerings in Asia outside Japan jumped by more than 14 times to about $5 billion last week compared with $350 million in the five business days prior, according to data compiled by Bloomberg. Emerging-market bond fund redemptions surged to a seven-week high while corporate bond outflows set a new weekly record, according to an Oct 25 e-mail from EPFR Global Inc, which tracks money flows.
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