Wanda’s 3-year new issue is reported to be oversubscribed – as investors buy into the market again following last year’s dramatic price falls.

Price guidance was around 12.5%, and the order book was reportedly $500m – against a planned issuance around of $300m.

This follows reduced concerns around the sector – particularly after the government has dropped its ‘three red lines’ policies for property developers – that capped debt-to-cash, debt-to-assets and debt-to-equity rations. This change pointed to greater government support for the sector.

Wanda’s current new issue follows a $400m issue from them last month.