Chinese mainland property developers are having a massive wave of fundraising to capitalise on "the best financing environment" in more than a year with borrowing cost declining significantly amid looseer liquidity condition. Most developers are able to borrow at single-digit coupon, even lower than 4 per cent in some cases.
Since the start of March, mainland developers, both large- and small-sized, have rushed to raise funds from issuance of short-term bills and corporate bonds, private placement, rights . . .
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