© Reuters. FILE PHOTO: The Chinese national flag is seen in Beijing, China April 29, 2020. REUTERS/Thomas Peter
By Scott Murdoch
HONG KONG (Reuters) – China’s property sector debt turmoil is set to keep a lid on Asian high-yield corporate bond deals in the first half of next year after a string of defaults by real estate firms left global investors licking their wounds, bankers said.
Chinese property developers account for the biggest portion of high-yield, also known as junk bonds, deals in the region.
Volume of such issues has been badly dented by concerns over the financial health of Chinese developers, with issuance of high-yield corporate bonds in the Asia-Pacific region falling in 2021 to its lowest in three years.
China Evergrande Group and Kaisa Group both missed bond payments…