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 Lu Zu project, which will comprise a centrally located grade-A office and retail development.
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