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China’s Future Land mandates bookrunners for dollar-denominated notes
By Angela McDaniels
Tacoma, Wash., Nov. 4 – Future Land Development Holdings Ltd. plans to issue dollar-denominated senior notes, according to a company announcement.
J.P. Morgan Securities plc, BOCI Asia Ltd., Guotai Junan Securities (Hong Kong) Ltd., Hongkong and Shanghai Banking Corp. Ltd. and Merrill Lynch International will be the joint global coordinators and joint bookrunners for the Regulation S deal.
The company plans to use the proceeds to repay some of its existing debt and for general corporate purposes.
The proposed issue is in addition to the RMB 3 billion of 4½% domestic corporate bonds due 2020 priced by the company on Wednesday. The company plans to use the proceeds of that issue to adjust its debt structure and to replenish cash.
Future Land is a Hong Kong-based real estate operator and developer.
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