[Shanghai / London, 17th Reuters]–The corporate bonds of China’s real estate developer Country Garden Holdings plunged on the 17th while the crisis over China’s real estate sector did not seem to subside.
Heikeien’s corporate bonds, which fell the largest ever last week, fell 17 points on the 17th. In overseas markets, most of the corporate bonds in Country Garden were 25-35% below par.
According to analysts, Country Garden tried to raise $ 300 million by issuing convertible bonds (CB) last week, but it was reported that it stopped issuing CB due to lack of demand from investors.
A spokeswoman for Country Garden said in a press report that there are no plans to issue a CB at this time.
The stock price of Country Garden also fell 8% in the Hong Kong market.
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