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Many property developers have managed...>

CHINA PRESS
CHINA PRESS: Many property developers have managed to raise funding using
asset-backed securities (ABS) as bank lending to the sector and bond issuances
has become more difficult, China Securities Journal reported on Thursday. As of
the end of April, a total of CNY150.9 billion ABS had been issued by property
developers, the report said, citing data from Hua Chuang Securities. Property
developers have been more motivated to issue ABS compared to bonds as issuing
ABS can lower their leverage ratios, minimize the impact on the rating of the
issuer, and optimize their balance sheets, the report said, citing a source
working at an ABS department in a securities brokerages. 

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