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China Evergrande to pay 13.75 pct for 5-year dollar bonds

The indebted Chinese real estate developer China Evergrande Group is resorting to high-interest US dollar bonds, mostly in the double digits, to refinance existing loans and analysts expecting other builders to follow suit amid tightening liquidity.

Hengda Real Estate Group Co Ltd, a unit of heavily indebted property developer China Evergrande Group, is offering to pay a 13.75 percent coupon on a five-year dollar bond, underscoring its financing strains.

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