Chongqing-based developer sells S$200 million worth of CBs

By Anette Jönsson | 25 January 2010
Keywords: convertible | property | chongqing | western china | jp morgan
Subscriber Content Preview.
Subscribe now for full access or call us now on +852 2122 5222.

Ying Li says the money from the Singapore dollar-denominated deal will be used to acquire two new sites and to start the development of an office and retail project in Chongqing.

Ying Li International Real Estate, a Chinese property developer listed in Singapore, has become the third Asian company this year to raise fresh capital from a convertible bond with a S$200 million ($142 million) deal that priced late Thursday Hong Kong time. The bonds have a five-year maturity with a three-year put.

Ying Li focuses on commercial property development in Chongqing in Western China and said the proceeds from the CB will be used to finance two planned acquisitions in the prime commercial business district, which it announced earlier last week, and to start its ...

To continue reading this article, subscribe now or call us now on +852 2122 5222.
You need a subscription to view this article
Articles older than 48 hours are available to subscribers only.

Log in below or buy a subscription to enjoy unlimited access to FinanceAsia.com's quickly growing 13,000 article database.
 
 
 
Polls
How has the financial crisis affected the reputation of Islamic finance?


   |   View results
Improved
  22%
 
No change
  37%
 
Damaged
  41%
TOTAL VOTES: 27

 
Magazine
FinanceAsia Magazine
FinanceAsia
March 2010