Record dim sum bond issue signals optimism for property and RMB market

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The largest corporate dim sum bond issue in history last month is cause for confidence both in the RMB bond market and China’s property market, says an adviser on the issuance. This issuance will help fund further expansions for New World China Land (NWCL), one of the largest property developers in China and the mainland property flagship of its parent company, New World Development (NWD).

record-dim-sum-bond-issue-signals-optimism-for-property-and-rmb-marketEversheds advised NWCL on the bond issue. The firm’s team was led by Kingsley Ong, a partner for debt capital markets, and Stephen Mok, a partner and head of corporate.

“With the bonds heavily oversubscribed and sold at a premium, the demand of this offering goes beyond just general investor interest in offshore RMB bonds – it reflects market confidence in NWCL and the New World group,” said Ong.

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