China’s Country Garden proposes new dollar-denominated senior notes

By Taylor Fox

Chicago, July 28 – Country Garden Holdings Co. Ltd. is proposing to conduct an international offering of new dollar-denominated senior notes, according to a notice.

Morgan Stanley & Co. International plc, J.P. Morgan Securities plc, Goldman Sachs (Asia) LLC, UBS AG Hong Kong Branch, Standard Chartered Bank and CLSA Ltd. are the global coordinators, lead managers and bookrunners for the proposed note issue.

The terms of the proposed notes, including aggregate principal amount, offer price and interest rate, will be determined through a book-building exercise.

Proceeds will be used for refinancing existing medium- to long-term offshore debt, which will be due within one year.

Country Garden is a Foshan, China-based real estate developer.

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