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ChinData looks to raise US$500M via IPO; China Evergrande plans US$2B issuance


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ChinData looks to raise US$500M via IPO; China Evergrande plans US$2B issuance

* Chinese data center operator ChinData Group is seeking the help of Citigroup Inc., Credit Suisse Group AG and Morgan Stanley for its planned IPO that will likely take place in the U.S. and could raise up to US$500 million, Bloomberg News reported, citing people with knowledge of the matter. Proceeds generated from the initial offering will be used to finance the Bain Capital LP-backed company's expansion.

* China Evergrande Group plans to issue US$1.00 billion of 11.5% senior notes due Jan. 22, 2023, and US$1.00 billion of 12.0% senior notes that will mature Jan. 22, 2024. The property company will primarily use proceeds from the issuance to refinance its existing debt, with the remainder earmarked for general corporate expenditure, according to a filing.

Greater China

* Integrated Chinese property developer Huijing Holdings Co. Ltd. debuted on the Hong Kong stock exchange on Jan. 16 under the stock code 9968. In its prospectus, the company said it was expecting to net roughly HK$1.56 billion from its IPO of 788,100,000 shares, assuming the overallotment option is not exercised and that it was priced at HK$2.16 per share, being the mid-point of the HK$1.93-per-share to HK$2.39-per-share indicative price range.

* Fund manager Actis established a 70/30 joint venture with New Ease for the development of logistics properties in China, IPE Real Assets reported. The pair committed to investing US$200 million to the platform that will oversee the construction of properties in Chongqing and Tianjin and Quanzhou.

* China South City Holdings Ltd.'s contracted sales for the three quarters ended Dec. 31, 2019, rose 8.3% year over year to HK$11.70 billion from HK$10.81 billion. Gross floor sales area for the reporting period amounted to 1,282,900 square meters, while the average selling price came to HK$9,100 per square meter.

* Seazen Group Ltd. expects to net US$342.0 million from its New Metro Global Ltd. subsidiary's planned issuance of US$350.0 million of 6.8% senior notes that will mature on Aug. 5, 2023. The anticipated proceeds from the offering will be used mainly to repay certain existing debt of the company.

* Kaisa Group Holdings Ltd. will issue US$300 million of 9.95% senior notes that will mature July 23, 2025, to raise funds for the refinancing of its existing medium- to long-term offshore debt.

* Meanwhile, Landsea Green Properties Co. Ltd. will issue US$200 million of 10.75% senior notes due Oct. 21, 2022. In a filing, the company noted that net proceeds from the offering will be utilized to refinance existing medium- to long-term offshore debt in accordance with its green bond framework.

* Investment in Hong Kong's office and retail property sectors declined 52% in 2019 to HK$68.9 billion, South China Morning Post reported, citing CBRE Group Inc. The property consultancy company said ongoing anti-government protests and economic uncertainty weakened demand in the city's real estate sector, resulting in the largest investment drop for a single year since 2011.

* The prices of new homes, excluding state-subsidized housing, grew 0.35% month over month in December 2019 in 70 major cities in China, Bloomberg reported, citing National Bureau of Statistics data.


* Singapore Land Authority, Singapore Tourism Board and the Urban Redevelopment Authority awarded the joint tender for the operation and management of Bugis Village and Bugis Street to CapitaLand Ltd. The tender for the development, which has a proposed retail net lettable area of approximately 195,000 square feet, has an initial three-year term that will commence on April 1 and can be renewed for a further two tenancy terms of three years each until March 30, 2030, according to a news release.

* PropNex Realty launched the collective sale of the 88-unit Wing Fong Court freehold condominium at 10 Lorong 14 Geylang with a S$108 million reserve price, The Business Times reported, citing the marketing agent. The adjacent Wing Fong Mansions condominium is also expected to be marketed soon with a S$176 million reserve price.


* Japan Retail Fund Investment Corp. resolved to purchase trust beneficiary right in the Machinoma Omori property in Tokyo for ¥9.10 billion from Mitsubishi Corp. Urban Development Inc. The acquisition of the property is scheduled to take place on March 2, with the real estate investment trust set to use cash on hand or debt for the transaction.

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