AMTD News | Shinsun Real Estate US$200m 364-Day Senior Notes
On 28 July 2020, Shinsun Real Estate Group Co., Ltd., (“Shinsun Real Estate” or the “Company”) successfully priced its US$200m 364-day senior notes (the “Transaction”), with AMTD acting as the Joint Placing Agent.
This is Shinsun Real Estate’s largest single-offering to date and achieved its lowest-ever coupon for a USD bond offering. This is also Shinsun Real Estate’s forth USD bond offering.
The bond is issued by Xiang Sheng Overseas Limited, with a guarantee provided by Shinsun Real Estate. This is the first transaction AMTD has acted for Shinsun Real Estate, taking the first step in building a long-term cooperation in the international capital markets. AMTD has been active in helping China real estate companies to complete their Hong Kong IPOs or bond issues including Ganglong China’s USD200m HK IPO and Radiance Group’s USD250m 3.25-year bond issue, in addition to this transaction.
Shinsun Real Estate is a fast-growing, large-scale, comprehensive real estate developer in China focusing on the development of quality residential properties in select regions in China. Headquartered in Shanghai and deeply rooted in Zhejiang Province, it has established a leading market position in Zhejiang Province through over 20 years of development, and have experienced rapid growth in terms of revenue and recognized GFA in recent years.
In 2019, it recorded revenue of RMB35,519.5 million and recognised GFA of 3,488,380 sq.m. According to the China Real Estate Index System, it was ranked third among all residential property developers in Zhejiang Province in 2019 in terms of contracted sales.
According to Enterprise Research Institute of the Development Research Center of the State Council, the Center for Real Estate of Tsinghua University and the China Index Academy, it was ranked among the Top 10 developers in terms of Operational Efficiency among “China Top 100 Real Estate Developers” in three consecutive years since 2018. It was also awarded “Top 30 Brand of China Real Estate Companies” by the Enterprise Research Institute of the Development Research Center of the State Council, the Center for Real Estate of Tsinghua University and the China Index Academy in 2019.