Country Garden puts off US dollar bond issue

Seoul

COUNTRY Garden Holdings Company has postponed an offering of US dollar bonds due to lacklustre investor demand in a weak market.

The Chinese property developer began marketing a US dollar-denominated 10-put-five transaction at around 5.625 per cent on Wednesday, but failed to attract sufficient demand, particularly after the sector saw bellwether credits drop more than two points since the US election victory of Donald Trump increased volatility in secondary markets.