China's big-time property developers gunning for luxury projects in Singapore

Too much property curbs at home, they said.

According to Bloomberg's report, faced with curbs on luxury residences and fundraising at home, China’s biggest mainland-listed property developer is building apartments for wealthy Chinese in Singapore and raising debt in the city’s currency.

China Vanke Co., which also plans developments in San Francisco and Hong Kong, sold S$140 million ($113 million) of four-year notes with a 3.275 percent coupon on Oct. 31, according to data compiled by Bloomberg. That’s a premium on the average 1.8 percent coupon for Chinese bonds in the currency. The yield on the company’s five-year U.S. dollar bonds fell 54 basis points since June, to 4.14 percent on Nov. 5, data compiled by Bloomberg show.

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