SG debt listings Thursday: Zhongliang Holdings

Chinese yuan and U.S. dollar notes. Photo by Eric Prouzet on UnsplashChinese yuan and U.S. dollar notes. Photo by Eric Prouzet on Unsplash

These are entities which announced debt listing confirmations in Singapore on Thursday, 19 May 2022: Zhongliang Holdings.

Zhongliang Holdings

Zhongliang Holdings said Thursday its US$201,636,117 8.75 percent senior notes due 2023 (ISIN code: XS2476291062) would be listed on SGX’s bond market on Friday.

The notes, which will trade in U.S. dollars, will be in denomination of US$150,000, which is also the minimum board lot size, the company said in a filing to SGX.

Hong Kong-listed Zhongliang Holdings is a real estate developer based in China’s Yangtze River Delta, with a portfolio of 504 projects across five economic zones on the mainland. The group specializes in residential properties.

Fitch Ratings said in late April it was downgrading Zhongliang Holdings to C from B-minus as the property developer launched a move to exchange its outstanding debt due this year for debt due next year, which the ratings agency considered a distressed debt exchange.

“Fitch considers the transaction to be necessary for Zhongliang to avoid default given its limited liquidity,” the report said.

Zhongliang Holdings

Zhongliang Holdings said Thursday its US$428,869,883 9.75 percent senior notes due 2023 (ISIN code: XS2476292037) would be listed on SGX’s bond market on Friday.

The notes, which will trade in U.S. dollars, will be in denomination of US$150,000, which is also the minimum board lot size, the property developer said in a filing to SGX.