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Atlantic Yards/Pacific Park graphic: what's built/what's coming + FAQ (pinned post)

China developers issuing more bonds, as regulators help. Situation still volatile.

This past November, I cited a Bloomberg article headlined Short-Dated Bond Spree by China Builders Flashes ‘Systemic Risk’, which mentioned that Greenland Holding Group was aiming to pay 9% on 1.5-year notes--which was actually a lower interest rate than at one rival mentioned.

So Greenland, the main developer of Atlantic Yards/Pacific Park, is under stress. Now a 1/30/19 article in the South China Morning Post, Buoyed by easing, expected end to Fed rate hikes, China developers issue US$8.6 billion in offshore bonds, suggests a slightly better picture:
Top mainland Chinese property developers are flocking to the offshore bond market to capitalise on a recovery in investors’ appetite. About 14 companies, including big guns Country Garden and Evergrande China, have already issued bonds worth US$8.6 billion this year, more than doubling the amount for January 2018, according to Chinese financial data provider Wind Information.
The article cited yields from 6.25% to 8.25%, over varying terms, one to five years.

Regulators in China have made it easier to issue bonds, seen as helping real estate companies, while other rulings, making it easier to sell property domestically, also would help. But the situation is seen as volatile, with a significant jump in defaults by debt-laden companies.

The article didn't mention Greenland, which is not among the bond issuers in January. And it may be more stable than some rivals. But that doesn't make it, nor any company in China's property sector, rock solid.

Why else would the joint venture Greenland Forest City Partners (now owned just 5% by Forest City/Brookfield) sell rights to three sites (B12, B13, B15) to other developers?

Update

A 2/17/19 article from Nikkei Asian Review, headlined Chinese companies stung as dollar fundraising costs soar, notes:
The average interest rate stands at 7.8% for offshore corporate dollar bonds floated over the past three months, up 2.2 percentage points from a year earlier. The average period to maturity has shrunk as well.
...Big-name Chinese property developers, such as Greenland Holding Group and China Evergrande Group, have accepted offering rates between 8% and 10%. 
And it notes a challenge:
Xi's administration faces a difficult decision: State support for these liabilities would perpetuate the problem of excess debt, but allowing these cash-strapped borrowers to go off life support might trigger capital flight.

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