Fears of a second offshore default from China's property sector receded last week as glorious property's high-yield bonds staged a dramatic recovery ahead of an October 25 maturity. GP's US$300m 13% 2015 bonds had been trading as low as 68 cents on the dollar early in the week as the market braced for only the second default from the sector, following Kaisa Group Holdings' missed payment earlier this year. Then, on Wednesday, the notes suddenly shot up to an offered price of 80.9 on rumours that its controlling shareholder had secured financing for a long-delayed takeover. On Friday, the notes were trading at 87.
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机译：上周，由于光荣地产的高收益债券在10月25日到期之前出现了戏剧性的复苏，对中国房地产业第二次离岸违约的担忧消退了。 GP发行的3亿美元2015年13％的债券本周初兑美元汇率低至68美分，因为市场仅支持该行业第二次违约，因为Kaisa Group Holdings今年早些时候未付款。然后，在周三，由于有传言称其控股股东已为长期延迟的收购获得融资，这些票据突然飙升至80.9的发行价。上周五，债券交易价格为87。
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