Chinese developers are increasingly tapping alternate options to raise cash, inc...
HONG KONG - Chinese developers are increasingly tapping alternate options to raise cash, including private-equity funds and securitization tied to commercial properties, as regulators tighten the screws on popular financing channels.
Approvals for asset-backed securities packaging different receivables, another popular financing channel, were also tightened a few weeks ago, homebuilders said. The developer he works for is planning to launch commercial mortgage-backed securities and has also submitted an application to form a real estate investment trust.
The cost is higher than bond financing, but it would help lower the company’s gearing, said the developer, which did not want to be named as the plans are not yet public.Financing via private-equity funds is, however, not limited to onshore. China Evergrande Group raised a $100 million fund in Hong Kong last month specifically for a redevelopment project in the southwest city of Guiyang, according to a presentation document seen by Reuters.
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