Asia’s high-yield corporate bond market showed further signs of recovery on Tuesday after three issuers found success with their deals, extending the primary-market revival seen at the end of last year and getting 2019 off to a strong start.
The largest of the trio was property heavyweight China Evergrande Group, which completed a $3 billion tap of its existing two-year, three-year and four-year bonds.
Another Chinese property developer, Central China Real Estate, raised $200 million from a short-dated bond deal, while Mongolian Mortgage secured $250 million from its debut US dollar bond issue.
Perhaps significantly, these were among the weakest performers during...
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