China Properties postpones offering of three-year dollar notes

By Christine Van Dusen

Atlanta, Feb. 21 - China Properties Group Ltd. has postponed its planned offering of dollar-denominated notes due in three years (expected issue ratings: /B-/B-), a market source said.

The notes had been talked at a yield in the 12¾% area.

BofA Merrill Lynch was the bookrunner for the Regulation S deal.

The company had previously announced plans to issue renminbi notes, with the proceeds for expansion strategies, refinancing and general working capital purposes.

China Properties is a Hong Kong-based real estate developer focusing on large-scale residential and commercial projects in China's major cities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.