Developers seek to borrow abroad

Tighter domestic lending, rising cost make overseas bond issuances popular

China's property developers are likely to continue to borrow significantly from overseas markets as China's lending market is tight and the cost of borrowing is rising.

In the first two weeks of this month, a handful of property developers have announced they will raise funds through US dollar-denominated bond issuances. They include Longfor Group, which announced successful issuance of bonds for a total of $800 million.