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China Merchants Shekou plans $400 million bond issuance to fund acquisitions

01/12/2022 | 02:35am EDT

SHANGHAI (Reuters) - Property developer China Merchants Shekou Industrial Zone Holdings Co plans to issue 2.58 billion yuan ($405.43 million) of debt to fund acquisitions.

The disclosure, made by China's interbank market operator, comes as Beijing encourages state-owned developers to acquire assets from cash-strapped real estate firms to ease liquidity pressure.

($1=6.3636 Chinese yuan renminbi)

(Reporting by Shanghai Newsroom; Editing by Clarence Fernandez)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHINA MERCHANTS SHEKOU INDUSTRIAL ZONE HOLDINGS CO., LTD. -2.35% 13.32 End-of-day quote.-0.15%
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