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Bond Market News
GLP China Identifies Funding Sources to Fully Repay Dollar Bonds Due 2026s
September 25, 2025
GLP China Holdings has identified funding sources to repay a $700mn 2.95% bond due March 2026. There could be a potential dollar bond issuance from the company, though details including the deal size, tenor and timing are said to still be under discussion, as per Bloomberg. It added that no decision has been made regarding the same. In late-August, it was reported that its parent company GLP secured new capital investment from ADIA, a significant boost for the company amid China’s property slump and its exposure to the sector.
Recently, select Chinese property developers are seeing a slight comeback to the offshore bond markets to raise funds – Seazen recently raised $160mn via the primary markets and Yuexiu Properties is in talks for issuing a eurobond. Besides, state-owned companies continue to raise capital via the dollar bond markets. The company’s dollar perps and bonds have trended higher since the ADIA investment update, with its 4.5% Perp currently trading at 66.6 cents on the dollar.
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