Ganglong proposes new guaranteed senior fixed-rate notes

By Taylor Fox

New York, Nov. 25 – Ganglong China Property Group Ltd. proposed an international offering of U.S. dollar-denominated guaranteed senior fixed-rate notes, according to a company notice.

Completion of the proposed notes issue is subject to market conditions and investors’ interest.

The notes are proposed to be guaranteed by the subsidiary guarantors.

As at the date of this announcement, the principal amount, the interest rate, the payment date and certain other terms and conditions of the proposed notes issue are yet to be finalized.

It is expected that Guotai Junan International, CMB International, Seazen Resources, China Vered Financial, Glory Sun Financial, HeungKong Financial, Huajin Securities (International) Ltd., Ganglong and the subsidiary guarantors will enter into the purchase agreement.

Application has been made for the listing and quotation of the notes on the Singapore Exchange Securities Trading Ltd.

Ganglong is a real estate development company based in Hong Kong.

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