Tag: property

CapitaCommercial Trust sells S$225 million worth of five-year CBs with the support of a few large investors. The innovatively structured deal gets a triple-A rating from both Moody's and S&P, allowing the Singapore-listed trust to achieve a coupon of just 1.6%. Bakrieland prices its $150 million deal after 1.5 days of marketing, while $350 million worth of bonds exchangeable into YTL scrape through at quite aggressive terms. The Indonesian property developer is offering bonds with a coupon of up to 8.625% and a conversion premium of 20% to 25%. The deal is expected to price tomorrow. Market watchers concur that inflation in China was up significantly in January this year, a trend that hasn't been seen since 2008. The deal for China SCE Property comes together despite encountering headwinds during marketing, including a falling secondary market. The company, which owns the franchise for the Century 21 brand in China, raises $87.4 million after pricing its US IPO at the bottom of the reduced price range. 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. Evergrande’s $750 million high-yield issue hits the market on a day when trading suffers in response to President Obama’s proposed new limits on US banks. The Fujian-based residential developer is seeking up to $255 million and follows nine other Chinese property IPOs in recent months. Leading Singapore real estate developer CapitaLand pays $2.2 billion for Orient Overseas International's China property business. Following CRIC's listing in October, another Chinese real estate services provider seeks overseas capital to fund its growth in the world’s most populous country. Far East Consortium raises HK$800 million from a Hong Kong dollar-denominated CB which is priced at best terms for investors. The Chinese property company upsizes in full, but prices at the bottom as investors are clearly becoming more price sensitive. In a separate deal, an existing shareholder sells ... The property developer blames market conditions for the withdrawal of its IPO, which had been due to price last Friday. Fatigue for property stocks appears to spread as Sunac offers its shares at less than five times next year's earnings at the bottom of the range, and Kaisa's IPO is only about ... Barclays Wealth's latest report on high-net-worth individuals shows that wealthy investors are planning to increase property investments. The flow of Chinese IPOs continues unabated as Tianjin-based Sunac starts pre-marketing two days after another Chinese property company, Kaisa Group, launches its IPO roadshow. The developer of urban housing and commercial projects prices near the top of the range amid improving sentiment for property IPOs. The Singapore-listed Chinese developer raises $111 million, while K-Reit Asia pockets $444 million from a rights issue that was oversubscribed despite a tight discount.