Jiangsu Construction uses liability management to net $250m

China property_Adobe_23July
By Morgan Davis
30 Mar 2021

Jiangsu Zhongnan Construction Group Co raised $250m from a new money and exchange offer on Monday.

The Haimen-based Chinese real estate company announced an exchange offer for its $500m 10.875% 2022 notes ahead of the new money transaction. Bond investors were offered the new 2024 bonds on a par-to-par basis with a minimum yield of 11.5%, plus $20 in cash, for each $1,000 in ...

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