Latest news with #HendersonLandDevelopment
Time of India
10-07-2025
- Business
- Time of India
Hong Kong's Henderson Land to raise $1 billion through convertible bonds
BENGALURU | HONG KONG : Henderson Land Development is raising HK$8 billion ($1.02 billion) through convertible bonds for general corporate purposes and refinancing, the Hong Kong property developer said. The convertible bond issue was announced on Tuesday by Henderson Land, which was founded by Lee Shau Kee , the late Hong Kong property magnate and one of the city's richest men. The initial conversion price is HK$36 per share, and, if the bonds are converted fully, will increase Henderson Land's equity capital by 4.6%. Henderson Land's shares tumbled by as much as 11% on Wednesday morning to HK$25.2 in a reaction to the announcement, before trimming the loss to be down 8.6%. The main Hang Seng Index was down 0.7%. The shares have gained around 36% in the past three months, riding on the property sector's low valuations and on expectations that the property market was bottoming out. "It is likely a chance for profit-taking, given there's still uncertainty in the property market," said an independent Hong Kong-based analyst, referring to the stock's sharp drop on Wednesday. Hong Kong's home prices have dropped by nearly 30% from a 2021 peak, while office vacancy rates reached record highs. Henderson Land is one of the largest office landlords in the city's Central Financial District, facing pressure from oversupply. Henderson Land said in the filing on Tuesday that the fundraising would "diversify the funding sources of the group" for its ongoing business development. Morgan Stanley said in a note that the convertible bonds' interest rate of 0.5% is much lower than the group's 4.51% average funding cost last year, and it could save annual interest of HK$320 million. The net proceeds from the issue of the bonds will be around HK$7.92 billion, Henderson Land said.
Business Times
09-07-2025
- Business
- Business Times
Hong Kong's Henderson Land to raise US$1 billion through convertible bonds
[HONG KONG] Henderson Land Development is raising US$1.02 billion through convertible bonds for general corporate purposes and refinancing, the Hong Kong property developer said. The convertible bond issue was announced on Tuesday by Henderson Land, which was founded by Lee Shau Kee, the late Hong Kong property magnate and one of the city's richest men. The initial conversion price is HK$36 (S$5.87) per share,and, if the bonds are converted fully, will increase Henderson Land's equity capital by 4.6 per cent. Henderson Land's shares tumbled by as much as 11 per cent on Wednesday (Jul 9) morning to HK$25.2 in a reaction to the announcement, before trimming the loss to be down 8.6 per cent. The main Hang Seng Index was down 0.7 per cent. The shares have gained around 36 per cent in the past three months, riding on the property sector's low valuations and on expectations that the property market was bottoming out. 'It is likely a chance for profit-taking, given there's still uncertainty in the property market,' said an independent Hong Kong-based analyst, referring to the stock's sharp drop on Wednesday. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Hong Kong's home prices have dropped by nearly 30 per cent from a 2021 peak, while office vacancy rates reached record highs. Henderson Land is one of the largest office landlords in the city's Central Financial District, facing pressure from oversupply. Henderson Land said in the filing on Tuesday that the fundraising would 'diversify the funding sources of the group' for its ongoing business development. Morgan Stanley said in a note that the convertible bonds' interest rate of 0.5 per cent is much lower than the group's 4.51 per cent average funding cost last year, and it could save annual interest of HK$320 million. The net proceeds from the issue of the bonds will be around HK$7.92 billion, Henderson Land said. REUTERS
New Straits Times
09-07-2025
- Business
- New Straits Times
HK's Henderson Land to raise US$1bil via bond issue
KUALA LUMPUR: Hong Kong-listed property developer Henderson Land Development said on Tuesday it intends to raise HK$8.00 billion (US$1.02 billion) via its issuance of guaranteed corporate bonds. The firm said it intends to use net proceeds of the raised amount for general corporate purposes and refinancing. The company added that the raising would "diversify the funding sources of the group" for its ongoing business development. Henderson Land had proposed the issuance of the bonds earlier in the day in a separate statement, but did not mention the amount to be raised at the time. The net proceeds from the issue of the bonds will be around HK$7.92 billion, the firm said. The property developer said an application for the bonds to be listed on the Vienna MTF operated by the Vienna Stock Exchange or other internationally recognised stock exchanges will be made by the firm, along with another application for a listing on the Hong Kong Stock Exchange. The company was founded by Hong Kong property magnate Lee Shau Kee, , one of the city's richest men, who passed away in late March at the age of 97.
South China Morning Post
09-07-2025
- Business
- South China Morning Post
Hong Kong stocks fall on worries about China's deflationary pressure
Hong Kong stocks fell by the most in nearly three weeks as China's deflationary trend became more entrenched, deepening concerns about the nation's growth prospects. The Hang Seng Index dropped 0.8 per cent to 23,943.42 at 10.13am local time on Wednesday and the Hang Seng Tech Index retreated 1.3 per cent. On the mainland, the CSI 300 Index climbed 0.2 per cent and the Shanghai Composite Index added 0.3 per cent. Henderson Land Development slumped 8.3 per cent to HK$26 after raising HK$8 billion (US$1 billion) from the sale of convertible bonds. Other Hong Kong-based property developers also fell: Hang Lung Properties slid 4 per cent to HK$7.38 and Sun Hung Kai Properties sank 3.6 per cent to HK$89.25. Producer prices on the mainland dropped by 3.6 per cent from a year earlier in June, marking the 33rd straight month of declines, the National Bureau of Statistics said on Wednesday. Consumer prices unexpectedly rose by 0.1 per cent Five companies started trading in Hong Kong. Wuhan Dazhong Dental Medical jumped 17 per cent to HK$23.30, Fortior Technology surged 8.5 per cent to HK$130.80 and Apple supplier Lens Technology added 2 per cent to HK$18.54. Beijing Geekplus Technology fell 2 per cent to HK$16.46 and Beijing Xunzhong Communication lost 0.4 per cent to HK$13.50. Other major Asia-Pacific markets were mixed. Japan's Nikkei 225 slipped 0.1 per cent, Australia's S&P/ASX 200 lost 0.3 per cent and South Korea's Kospi rose 0.5 per cent.
Bloomberg
08-07-2025
- Business
- Bloomberg
Henderson Land Seeks $1 Billion From Convertible Bonds
Henderson Land Development Co. is seeking to raise HK$7.85 billion ($1 billion) from the sale of convertible bonds. The Hong Kong developer is issuing the bonds through Happy Ever Holdings Ltd., an indirectly wholly owned unit, according to terms of the deal seen by Bloomberg News. The notes, due in 2030, will be convertible into Henderson shares. The company has the option to increase the size of the offering by HK$150 million.
