Latest News

China Conglomerates Lined Up for New Bonds

China conglomerates lined up for new USD bond issurance this week, just one day following the US Federal Reserve raised benchmark interest rate.

China's Fosun International Limited on March 17 said it priced a USD800 million five-year non-call three years senior bond. The company said the use of proceeds would be refinancing as well as replacement of indebtedness with relatively high costs, total debts will not increase as a result of this exercise. Credit Suisse acted as sole global coordinator.

China Evergrande Group said yesterday it issued USD500 million 7.0% senior notes due 2020 and USD1 billion 8.25% senior notes due 2022. The company said it intends to use to refinance existing indebtedness after deducting the underwriting discounts and commissions and other estimated expenses payable in connection with the notes issue. Approval in-principle has been received from the SGX-ST for the listing and quotation of the notes on the SGX-ST. Admission of the notes to the SGX-ST is not to be taken as an indication of the merits of the company or the notes. No listing of the notes has been sought in Hong Kong, the company said.

1/5
Featured

Copyright © APMR - Asia Property Market Review. All Rights Reserved.

  • Grey Facebook Icon
  • Grey Twitter Icon
  • Grey LinkedIn Icon
  • Grey Google+ Icon