Shui On Land (HKG:0272) Inks Agt for Issue of US$400M Notes

   Date:2012-02-10

Shui On Land (HKG:0272) and its wholly-owned subsidiary, Shui On Development, have entered into a purchase agreement with BNP Paribas, Deutsche Bank, Standard Chartered Bank and UBS in connection with the issue by Shui On Development of an aggregate principal amount of US$400 million 9.75% senior notes due 2015, Shui On Land announced.

The estimated net proceeds of the notes issue, after deduction of underwriting commissions and other estimated expenses, will amount to US$388.94 million. 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.

Approval-in-principle has been received for the listing of the notes on the SGX-ST.
 



 

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