FACTBOX- r4i suppliers Chinese real estate firms fund raising deals

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FACTBOX- r4i suppliers Chinese real estate firms fund raising deals

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FACTBOX-Chinese real estate firms fund raising dealsPublished: 13 Mar 2009 01:45:58 PST<p class="authorInfor"]</p]
 March 13  - Chinese developers, once the darlingof overseas investors, are turning to their home market to meettheir financial obligations as foreign funding for real estatedries up due to the global financial crisis.</p]                               
 Here are some recent fund raising actions by Chinesedevelopers:</p]                               
 SHARE SALES</p]                               
 * China Overseas Land, the largest Hong Kong-listed Chineseproperty developer, said in December it planned to issue aHK$2.5 billion ($320 million) rights share issue, raisingcapital to strengthen its financial position.</p]                               
 * Smaller rivals Franshion Properties (China) said inFebruary it aimed to issue HK$2.72 billion ($349 million)rights shares, raising capital to fund acquisitions.</p]                               
 * Poly Real Estate Group Co said last month it planned ashare placement of up to 8 billion yuan ($1.17 billion),raising capital to fund 8 property projects.</p]                               
 DOMESTIC BONDS</p]                               
 * China Vanke, the country's biggest listed developer,plans to issue 6 billion yuan ($877.3 million) worth of bondsto improve its debt structure and boost working capital.</p]                               
 * Guangzhou R&amp;F Properties aims to issue about 6 billionyuan ($877.3 million) to repay bank loans.</p]                               
 * Beijing North Star planned to issue up to 1.7 billionyuan ($248.6 million) corporate bonds to improve liquidity.</p]                               
 * Shanghai Forte Land, which saw its profit dive 86 percentin 2008 amid a downturn in China's real estate market, plans toissue up to 1.9 billion yuan ($277.8 million) worth 5-8 yearsdomestic corporate bonds to enhance capital strength.</p]                               
 BANK LOANS</p]                               
 * Beijing-focused commercial real estate developer SOHOChina Ltd said in March it secured credit and financingfacilities, including loans for developments, and for mergerand acquisitions, of up to 10 billion yuan ($1.46 billion) fromthe Beijing branch of Bank of China. </p]Learn Business Chinese 港澳游 ペニーオークション wow gold 电话会议 Study Mandarin