Greentown China plans to sell dollar perpetual capital securities

By Rebecca Melvin

New York, July 10 – Greentown China Holdings Ltd. plans to price a U.S. dollar-denominated offering of perpetual capital securities, according to a news release.

Size and pricing of the Regulation S deal will be determined following book-building, which is being conducted by Credit Suisse, HSBC, Citi, Deutsche Bank and CCB International, the joint global coordinators, joint lead managers and joint bookrunners, and Orient Securities, a joint lead manager and joint bookrunner.

Proceeds will be used to refinance existing debt and for general corporate purposes, including working capital. Completion of the deal is subject to market conditions.

Greentown China is a Hangzhou, China-based property developer.

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