Dalian Wanda Group is said to be in discussions to secure an offshore loan to pay its $350mn 8,875% dollar bond due on March 21, as per sources. They noted that the company was in talks with ICBC and that the financing would be backed by onshore assets of Wanda. In mid-January, the company’s management told some investors that it planned to raise around $350mn from the loan. In a first deal from the Chinese property sector since since May 2022, Dalian Wanda’s property raised $400mn via a 2Y bond at a yield of 12.375%.
Its 8.875% 2023s were trading 0.2 points lower at 99.64, yielding 11.68%
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