SINGAPORE: Central China Real Estate Limited has proposed to conduct an international offering of USD denominated senior notes mainly for refinancing its existing indebtedness, a notice send to Singapore Exchange (SGX) said.
The Notes are proposed to be guaranteed by the Subsidiary Guarantors. BNP PARIBAS, Credit Suisse, DBS, Deutsche Bank, Haitong International and Morgan Stanley are the joint bookrunners and the joint lead managers for the Proposed Notes Issue.
The Group is one of the leading Henan-based property developers which focuses on developing high-quality residential properties. Known for its outstanding product quality, strong brand and experienced management team, the Company ranked 41st in the “2017 Top 500 Chinese Property Developers” in the “2018 Assessment Report on Top 500 Chinese Property Developers” published on 21 March 2018 and topped the list of “Top 10 Chinese Property Developers in Regional Operations” for ten consecutive years.
According to the “Evaluation and Research Report on the Listed Real Estate Companies in the PRC in 2018”published on 25 May 2018, the Company ranked 26th on the “2018 Best 30 China Real Estate Listed Companies with Strongest Comprehensive Strengths” and ranked 4th among the listed property companies in China in terms of operations performance.
The Company was listed on the “2018 Fortune China 500 List” released by the Fortune magazine on 10 July 2018, the only property developer in Henan province on the list. The Company currently intends to use the proceeds from the Proposed Notes Issue mainly for refinancing its existing indebtedness. The Company may adjust its plans in response to changing market conditions, and thus reallocate the use of the proceeds.
The Board of Central China Real Estate Limited believes that the Proposed Notes Issue represents a timely opportunity for the Company to further extend the profile of the Group and improve its ability to access the international debt capital markets to support the growth of the Group in future. [the_ad id=”31605″]