China’s Socam Development will not issue dollar-denominated notes

Chicago, Sept. 24 – Socam Development Ltd. has canceled its plan to sell new dollar-denominated senior notes, the company said Tuesday.

The company announced the offering on Sept. 10.

The company cited unfavorable market sentiment as the reason not to proceed with the offering.

UBS was the global coordinator, bookrunner and lead manager for the Regulation S deal.

The issuer is a Hong Kong-based firm that principally engages in property development and investment, asset management in China and construction in Hong Kong and Macau.

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