Jun
08
China Shadow Banker Sidesteps Default Concern to Sell Debt
ByA Chinese trust company has sold the first dollar bond since the late 1990s, when the industry’s implosion saddled international investors with heavy losses.
Zhongrong International Trust Co. raised $225 million selling three-year notes to yield 6 percent Monday. It’s the only financial institution from China with a BB score from Standard & Poor’s currently to tap the market, and the first since Fujian International Trust & Investment Corp. sold U.S. currency notes in 1997.
China Shadow Banker Sidesteps Default Concern to Sell Debt
