This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Country Garden to Raise $360mn by Issuing Shares; Fosun Raised $220mn to Repay Local Bond
July 27, 2022
Country Garden intends to raise HK$2.83bn ($360.23mn) by issuing 870mn new shares to investors at a discounted price from its Tuesday’s close of HK$3.72 each. This amounts to 3.62% of the developer’s enlarged share capital. The proceeds will be used for refinancing existing offshore debt, general working capital and future development purposes. The developer’s 2.7% dollar bonds due in 2026 are trading at 35.7, 1.75 points higher.
Separately, Fosun International’s subsidiary, Shanghai Fosun High Technology Group has raised RMB 1.05bn ($220mn), allowing it to fulfill bondholders’ request for an early redemption of local bonds on August 8.
Fosun International’s 5% 2026s are trading at 47.5 cents to the dollar, up by down by 1.13 points.
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.