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Shui On Land ( (HK:0272) ) has provided an update.
Shui On Land has announced that its subsidiary Shui On Development will issue an additional US$150 million of 9.75% senior notes due 2029, under a purchase agreement with UBS. The notes will be guaranteed by Shui On Land, have in-principle approval for listing on the Singapore Exchange, and will not be listed in Hong Kong.
The company expects net proceeds of about US$153 million from the issuance, which the group plans to use to refinance and repay existing indebtedness. The transaction supports Shui On Land’s ongoing liability management and access to offshore funding, potentially strengthening its balance sheet while locking in medium-term funding at a fixed high-yield cost.
More about Shui On Land
Shui On Land Limited is a Hong Kong-listed property developer incorporated in the Cayman Islands. Through its subsidiary Shui On Development, the group focuses on real estate projects and related financing activities in international capital markets.
YTD Price Performance: -26.09%
Average Trading Volume: 8,070,721
Technical Sentiment Signal: Sell
Current Market Cap: HK$4.08B
See more data about 0272 stock on TipRanks’ Stock Analysis page.