Beijing Capital sells largest Dim Sum

Beijing Capital Land Ltd, the developer whose shares have risen 76 percent this year, sold 2 billion yuan ($321 million) of debt on Thursday, the largest offering of so-called Dim Sum notes by a corporate in more than seven months.

The company, whose projects include the five-star InterContinental Beijing Financial Street hotel, priced the three-year securities to yield 7.6 percent, according to data compiled by Bloomberg. The issuance is the largest single-tranche sale by a company since HSBC Holdings Plc raised the same amount in April, the data show. Beijing Capital Land's bonds received 10 times more orders than the amount of debt available, a person familiar with the matter said on Thursday.