Shui On Land raises US$375m

As Beijing seeks to slow real estate development in Chinese cities by curbing access to bank financing, developers are looking to other means to finance their projects. Shui On Land Ltd, the Chinese real-estate company that developed Shanghai's trendy Xintiandi district, said it raised US$375 million in corporate bonds to fund existing projects, The Wall Street Journal reported. Guangzhou's Hopson Development Holdings Ltd recently pocketed US$125.4 million by selling a 16.7% equity stake to Tiger Global Management and Temasek Holdings, while Guangzhou R&F Properties sold a big chunk of its stock offering to private-equity firm Warburg Pincus.