Shui On Land (HKG:0272) announces that its wholly-owned subsidiary, Shui On Development, proposes to conduct an international offering of senior notes to institutional investors in Asia and Europe. The notes are expected to be guaranteed by Shui On Land.

The group intends to use the net proceeds from the notes to fund capital expenditures related to the group's real estate operations and/or acquire, develop, construct or improve assets, real or personal property or equipment or repay existing indebtedness.

Application has been made for the listing of the notes on the SGX-ST.