Modern Land (China) (01107) said it proposes to conduct an international offering of the USD-denominated senior notes.
Pricing of the notes, including the aggregate principal amount, the offer price and the interest rate, will be determined through a book building exercise to be conducted by Credit Suisse and Goldman Sachs as the joint global coordinators and Credit Suisse, Goldman Sachs, HSBC, J.P. Morgan, Guotai Junan, Morgan Stanley and CLSA as the joint bookrunners and joint lead managers.
The company intends to use the proceeds to refinance certain existing indebtedness and fund existing and new property projects (including development costs and land acquisition costs).
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