Date
15 August 2018

Evergrande to issue US$1 bln senior notes, paper says

Evergrande Real Estate Group (03333.HK) plans to issue fixed-rate senior notes worth US$1 billion, the Hong Kong Economic Journal reported Thursday, citing an unnamed market source. The notes will mature in five years and will have an annual interest rate of about 9 percent. The actual amount and interest rate will be decided based on market reaction. Meanwhile, Evergrande’s debt ratio could rise after the company agreed to buy a 49 percent stake in a commercial project in Qidong, Jiangsu province, for US$550 million on Oct. 16, the report said.

– Contact HKEJ [email protected]

TL/AC/RA

 

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