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Chinese developers face surging borrowing cost overseas amid tightening scrutiny on domestic financing

Chinese mainland property developers are flocking to the offshore bond ­market despite surging borrowing cost as they need to look for refinancing when onshore trust lending and loan financing have been tightened by authorities.

Last Thursday, Tahoe Group issued US$400 million worth of three-year bonds with a coupon rate of 15 per cent in July, the high yielding debt among Chinese developers so far this year.

Hong Kong . . .

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