New | China SCE Property announces notes for US$350 million

China SCE Property Holdings announced on Thursday it has issued notes worth US$350 million.

The notes, which will mature in 2020, will bear interest at a rate of 10 per cent per annum.

The property developer said the estimated net proceeds, after deduction of underwriting discount and commissions and other estimated expenses, will amount to approximately US$342 million. The capital will be used to refinance its existing debt and for business development.

HSBC, J.P. Morgan, Haitong International, Huatai Financial Holdings (Hong Kong), ICBC International, Nomura and VTB Capital as the initial purchasers.