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Xinyuan Real Estate Co., Ltd. Message Board

  • star_hominid star_hominid Apr 27, 2013 9:43 AM Flag

    Bond details

    Real Estate and yield beat basmati rice....details on IV.

    **** Two Single B rated Asian issuers received very different responses to their high-yield bonds last week, underlining both the allure of a high coupon and investors’ reluctance to embrace untested sectors. ****

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    • Star great article, and thanks for posting that, and really all that stuff on IV. All relevant and stuff I was not finding myself. Prices in New York, slowness of local govts in China to implement, prices still rising, and Vanke solid earnings all point to good results in a couple of weeks.

      What did you think of this part? "The debut issuer also sweetened the deal with a 50-cent rebate to private banks,". Does this mean that XIN is basically paying 13.75% on the portion the banks picked up???

      Really liked this: " the bonds were quoted at 101.75/101.50 the day after pricing". That means more people would have bought in at that price.. Probably could have done $500M if needed. I guess it just bodes well for the future and is a sign that all these big banks doing DD think XIN is worth a shot.

      Good luck all!

      • 1 Reply to brianchesnutt
      • I am not sure what that $0.50 rebate to the banks means. 50 cents on $100? 50 cents on $1000? I believe 50 cents on $100 means 13.75% for one year...followed by 13.25% for the next 4 years.

        Looks like they could have sold more if they wanted to...or got the deal for 13%...or forgot the 50 cents rebate.

        The $40M senior secured notes that were just paid off were at 15.6% interest plus a $4-$7 M instant rebate( 1.2M penny warrants) they have come a long way in 3 years.

5.69+0.14(+2.52%)Oct 24 4:02 PMEDT