SRE Group raises $130 million to complete restructuring

The small-cap Chinese developer sells equity and CBs to pay for its ongoing high-yield bond tender.

Small-cap Chinese real estate developer SRE Group has raised approximately $130 million from a combined sale of Hong Kong-listed shares and convertible bonds. The deal, which was completed on Monday night, is part of a broader balance sheet restructuring that also includes a buyback tender for the company's outstanding high-yield bonds and a relaxation of the covenants on those same bonds. The money raised on Monday will be used to pay for the buyback.

A restructuring was...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...