Jingrui nets $240m from LM outing

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By Morgan Davis
17 Nov 2020

High yield property company Jingrui Holdings raised $240m on Monday as part of an exchange and new money exercise.

The Shanghai-based developer, which carries a B2/B rating, began marketing the new paper soon after closing an exchange offer for its $349.8m 9.45% 2021 notes. As of the exchange deadline, $142.815m of the bonds, or about 40.83% of the outstanding principal, had been tendered for exchange. That left ...

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