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Shimao Property launches US$250M senior notes offering

Shimao Property Holdings Ltd. launched an offering of US$250 million 6.375% senior notes due 2021.

The notes will be offered at 100% of their principal amount, with interest payable semi-annually in arrears on April 15 and Oct. 15 each year, starting April 15, 2019.

The Hong Kong-based real estate developer plans to use the net proceeds generated from the issue to refinance its outstanding debt, for business development and other general corporate purposes.

Applications will be made to list the notes on the Singapore Exchange Securities Trading Ltd.

Goldman Sachs (Asia) LLC, The Hongkong and Shanghai Banking Corp. Ltd. and Morgan Stanley & Co. International plc are the joint global coordinators, joint book runners and joint lead managers of the offering. China International Capital Corp. Hong Kong Securities Ltd., Deutsche Bank AG's Hong Kong branch, SMBC Nikko Capital Markets Ltd., Standard Chartered Bank and The Bank of East Asia Ltd. also act as joint book runners and joint lead managers.