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China’s Modern Land plans tap of 15½% green notes due 2020
By Wendy Van Sickle
Columbus, Ohio, Feb. 19 – Modern Land (China) Co., Ltd. plans to sell additional dollar-denominated green senior notes to be consolidated and form a single issue with the $150 million of 15½% green senior notes due July 2, 2020 issued on Jan. 2, according to an announcement.
Guotai Junan International, HSBC, Barclays, Credit Suisse, Deutsche Bank, Haitong International and UBS are joint global coordinators, joint bookrunners and joint lead managers for the tap of Regulation S notes. HSBC is green structuring adviser.
Proceeds will be used to refinance existing debt. New and existing projects and business funded with the proceeds will have environment benefits in line with green bond principles.
Modern Land is a Beijing-based developer focused on green, energy-saving and eco-friendly residences in China.
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