Agile Property to place subordinated perpetual capital securities

By Susanna Moon

Chicago, Jan. 9 - Agile Property Holdings Ltd. said it plans to place subordinated perpetual capital securities.

The securities will be denominated in dollars and will have no fixed maturity date, according to a company notice. The size and pricing will be settled following a bookbuilding process.

Hongkong and Shanghai Banking Corp. Ltd., UBS AG, Hong Kong Branch and Morgan Stanley & Co. International plc, are the lead managers and joint bookrunners. ICBC International Securities Ltd. is a joint lead manager.

Proceeds will be used for the purchase of new land sites, refinancing and general working capital purposes.

Agile Property is a Hong Kong-based land development company.

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