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Sunac China plans US$540M senior notes issuance

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Capital Markets View – January 2021


Sunac China plans US$540M senior notes issuance

Sunac China Holdings Ltd. is planning to issue US$540 million of 6.5% senior notes due Jan. 10, 2025.

Proceeds arising from the offering will be used primarily to refinance the Chinese property group's existing indebtedness.

Sunac China added in a Jan. 8 filing that it obtained in-principle approval from the Singapore stock exchange for the listing of the notes, which will be offered at a price equivalent to its principal amount.

The Hongkong and Shanghai Banking Corp. Ltd., Morgan Stanley & Co. International PLC, Barclays Bank PLC, China CITIC Bank International Ltd., Credit Suisse (Hong Kong) Ltd., the Hong Kong branch of Deutsche Bank AG, Guotai Junan Securities (Hong Kong) Ltd. and Nomura International (Hong Kong) Ltd. are the joint global coordinators and joint book runners of the issuance.