The offering comprises two 5.0 billion yuan tranches, each valued at approximately $744.8 million. Investors are being offered notes due in 2029 with a 1.75% coupon, alongside a second set maturing in 2031 carrying a 1.85% coupon. S.F. Holding intends to funnel the net proceeds toward refinancing existing obligations and supporting general corporate operations.
In section Market Quotes
S.F. Holding Targets $1.5 Billion in Dual-Tranche Bond Sale
Chinese logistics giant S.F. Holding is tapping the bond market for roughly $1.5 billion, issuing guaranteed notes in two separate tranches. The move highlights a broader trend of mainland companies utilizing Hong Kong as a strategic gateway to diversify capital sources beyond restricted onshore markets.
Financial institutions HSBC and ICBC International are managing the issuance as the company navigates divergent market sentiment; shares in Shenzhen closed up 0.3% at 31.08 yuan on Tuesday, while the firm's Hong Kong-listed stock slipped 1.1%. This maneuver follows a pattern of heightened activity in the region, including Z.AI’s recent $5 billion plan for share placements and convertible bonds. By securing these funds in Hong Kong, S.F. Holding bypasses significant regulatory friction inherent in domestic capital allocation for foreign investors.
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