GCL-Poly puts bond issue on ice as investors cool to China

Analysts are asking more questions of Chinese firms operating in the nation's financial powerhouses such as Shanghai

GCL-Poly, which claims to be the world’s largest maker of PV-grade polysilicon and wafers, has delayed a planned bond issue worth $250m-$300m due to waning sentiment towards Chinese companies, according to reports.

Last month GCL-Poly embarked on a "road show" across Asia, Europe and the US to woo potential investors, as it looks to raise the money it needs to fund its aggressive expansion strategy.

That bond issue has now been shelved until market conditions improve, say reports. GCL-Poly insists the issue will still take place but offers no new timetable.

Sentiment towards Chinese companies has cooled among analysts and economists as Beijing looks to contain inflation and demand for its products in developed economies remains muted.

The situation has been exacerbated by recent…

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