Modern Land (China) plans to offer dollar-denominated senior notes

By Toni Weeks

San Luis Obispo, Calif., July 23 – Modern Land (China) Co., Ltd. said it plans to conduct an international offering of dollar-denominated senior notes.

Pricing will be determined through a bookbuilding exercise, according to a company announcement. Completion of the issue is subject to market conditions and investor interest.

Credit Suisse Securities (Europe) Ltd., Goldman Sachs (Asia) LLC, HSBC Ltd., J.P. Morgan Securities plc, Guotai Junan Securities (Hong Kong) Ltd., Morgan Stanley & Co. International plc and CLSA Ltd. are the joint bookrunners and joint lead managers for the Regulation S offering, with Credit Suisse and Goldman Sachs as the joint global coordinators.

Proceeds from the proposed notes will be used to fund existing and new property projects and to refinance existing debt.

The property developer is based in Beijing.

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