China developer Seazen eyes dollar debt issuance

Seazen

12/06/2025 03:23

SYDNEY, June 12 (Reuters) - China property developer Seazen Group 1030.HK said on Thursday it was planning a dollar-denominated debt issuance to buy back some of the company's existing bonds.

The developer is targeting a three-year bond with a non-call, non-put option for the first two years, offering a yield to put of around 13.25%, according to a term sheet seen by Reuters.

In a regulatory filing to the Hong Kong Stock Exchange, Seazen said the proceeds would be used to repay a $300 million bond maturing in July 2025 and another $300 million bond due in October 2025.

Seazen has weathered the China property crisis better than most of its rivals, and was able to tap into dollar-funding markets during the downturn of the past few years.

The company raised $100 million in a 364-day green bond in May 2022.

 (Reporting by Scott Murdoch; Editing by Harikrishnan Nair)

 ((Scott.Murdoch@thomsonreuters.com;))