chongqingbased-developer-sells-s200-million-worth-of-cbs

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

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

Investors like developers based in the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222