Greentown China rises on notes issue plan to refinance debts

Greentown China Holdings

13/02/2025 05:48

** Shares of Greentown China Holdings  3900.HK  rise 3.3% to
HK$9.58, their highest since January 6, and on track for second
session of gain
    ** The Chinese property developer proposes to conduct an
international offering of U.S. dollar-denominated senior notes,
raising proceeds to refinance existing indebtedness
    ** Deutsche Bank, HSBC, Guotai Junan International, J.P.
Morgan, Soochow Securities and UBS are the joint global
coordinators, joint lead managers and joint bookrunners of the
offering  
    ** Moody's Ratings assigns B1 rating to Greentown's proposed
senior unsecured notes
    ** Greentown has also launched a concurrent tender offer to
buy back its 4.7% April 2025 senior notes and 5.65% July 2025
senior notes 
    ** Hang Seng Mainland Properties Index  .HSMPI  adds 0.3%
and Hang Seng Index  .HSI  rises 2.3%
    ** Stock rose 16.5% last year
      

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))