Property firm Greentown China to buy back $741 million bonds, plans dollar-debt offering

Greentown China Holdings

13/02/2025 05:48

Feb 13 (Reuters) - Greentown China  3900.HK  will buy
back $741 million of outstanding bonds and is also planning to
issue U.S. dollar-denominated notes, both as part of a debt
refinancing plan, the real estate company said on Thursday.
    The Hangzhou-based developer will buy back $446.5 million of
its 4.7% senior notes and $294.5 million of its 5.65% senior
notes, both due in 2025, it said.
    Greentown also said it plans to issue dollar-denominated
senior notes, although the amount and other terms were yet to be
finalized.
    The Hong Kong-listed company's refinancing comes amid
heightened investor caution following a spate of defaults in
China's property sector.
    Although Hong Kong's sector has not experienced similar
defaults, investors remain concerned about companies' dwindling
liquidity due to struggling residential and commercial property
markets.

 (Reporting by Rajasik Mukherjee in Bengaluru; Editing by Savio
D'Souza)
 ((Rajasik.Mukherjee@thomsonreuters.com;))