Shui On Land Plans New Singapore-Listed Notes for Debt Refinancing

Shui On Land ( (HK:0272) ) has provided an update.

Shui On Development, a wholly owned subsidiary of Shui On Land, plans an international offering of additional notes to institutional investors in Asia and Europe, with the notes to be guaranteed by the parent company and consolidated into a single series with its existing notes. UBS will act as initial purchaser, sole global coordinator and sole bookrunner, and the notes have received in-principle approval for listing on the Singapore Exchange, with no listing sought in Hong Kong.

If completed, the issue’s net proceeds will be used to refinance and repay existing indebtedness, potentially improving the group’s debt profile and funding flexibility. However, no binding agreement has yet been signed, completion remains subject to market conditions and investor demand, and the company has cautioned shareholders and investors that the proposed notes issue may or may not materialise.

More about Shui On Land

Shui On Land Limited is a Hong Kong-listed property developer incorporated in the Cayman Islands. Through wholly owned subsidiary Shui On Development, the group focuses on real estate development and related financing activities, primarily serving institutional investors in Asian and European capital markets.

YTD Price Performance: -26.09%

Average Trading Volume: 8,070,721

Technical Sentiment Signal: Sell

Current Market Cap: HK$4.08B

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