HONG KONG SAR - Media OutReach - 1 June 2021 - Chinese property developer ─ Datang Group Holdings Limited ("Datang" or the "Company"; together with the subsidiaries, the "Group"; HKEx stock code: 2117) is pleased to announce its debut issuance of USD300 million 12.50% senior notes due 2022. The completion of this offshore financing reflects the Group's strong financing capabilities and its more diversified funding channels, which enhance the debt profile.
Response from capital markets towards the issuance senior notes was strong with total subscription amount over USD 600 million. The order book was oversubscribed for over one time with 63% of allocation to funds and institutional investors in Asia and 37% to private banks. The issuance received strong response from many well-known international institutional investors, which signals market's recognition of Datang's improving financial condition and promising results outlook.
The financial institutions involved in this issuance included Guotai Junan Securities (Hong Kong) Limited, China International Capital Corporation Hong Kong Securities Limited, Haitong International Securities Company Limited, CCB International Capital Limited, CHINA GALAXY INTERNATIONAL SECURITIES (HONG KONG) CO. LTD, Glory Sun Securities Limited, BNP PARIBAS, CMB International Capital Limited, China Everbright Securities (HK) Limited, AMTD Global Markets Limited, Vision Capital International Holdings Limited, JQ Securities (Hong Kong) Limited, Central Wealth Securities Investment Limited, Soochow Securities International Brokerage Limited, GLAM Capital Limited, Valuable Capital Limited and China Merchants Securities (HK) Co., Limited.
Mr. Wu Di, Chairman of the Group said, "After the ratings granted by S&P and Moody's, the debut issuance of USD senior notes served as a proof that the Group's proactive efforts in improving its capital structure. We are thrilled by good responses from the capital market towards the senior note issuance. It also reflects their recognition of the Group's sound business strategy and their confidence in the Company's improving credit profile. Looking ahead, Datang will continue to broaden financing channels of domestic and overseas capital markets, increase cooperation with financial institutions, and expand credit scale. Meanwhile, we will reasonably control the debt scale and continue to maintain a stable growth under the Three Red Lines."
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