Yuzhou Properties to sell additional 6% senior notes due 2023

Chicago, July 1 – China’s Yuzhou Properties Co. Ltd. is proposing an add-on to the company’s $250 million 6% senior notes (B1//BB-) due 2023, according to a notice.

Details will be determined through a book building exercise conducted by the joint lead managers, which were not named in the announcement.

The notes were originally issued Oct. 25, 2016.

Proceeds will be used to repay debt and, to a lesser extent, for business development in China.

Yuzhou is a property developer based in Shanghai.

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