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China bad debt manager Cinda seeks at least $500 mln in debt - fund managers
May 5, 2014 / 8:35 AM / 3 years ago

China bad debt manager Cinda seeks at least $500 mln in debt - fund managers

HONG KONG/SINGAPORE, May 5 (Reuters) - China’s only listed bad debt management firm Cinda Asset Management is offering bonds worth at least $500 million, its first U.S.-dollar denominated debt, two fund managers who attended a company presentation said on Monday.

The offer is expected to bolster Cinda’s asset base in anticipation of a spurt in bad loans as China’s economy slows. The company is meeting investors in Hong Kong, Singapore and New York this week to raise the funds.

Cinda officials were not immediately available to comment. (Reporting by Saikat Chatterjee in HONG KONG and; Lianting Tu in SINGAPORE; Editing by Miral Fahmy)

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