Singapore's 100,000 millionaires tapped by Chinese developers
Amidst higher borrowing costs.
Chinese developers, faced with surging local borrowing costs and a cooling property market, are tapping Singapore’s more than 100,000 millionaires with record bond sales, says Bloomberg in its report.
Private banks bought 79 percent of Central China Real Estate Ltd.’s (832) S$200 million ($160 million) of notes last week.
Read full report here.