New City Development subsidiary New City Global plans to issue USD-denominated guaranteed senior notes

2026-02-26 02:01:15

****Viewpoint Network News: ****On February 26, Xincheng Development announced that its subsidiary, Xincheng Global Limited, plans to conduct an international issuance of secured senior notes guaranteed by Xincheng Development, denominated in US dollars. A series of promotional events will be held for institutional investors.

According to the announcement, the pricing of the notes, including the principal amount, issue price, and interest rate, will be determined by Citigroup Global Markets Limited and Haitong International Securities Limited through a book-building process. The net proceeds from the proposed issuance are intended to be used for funding the 2026 purchase offer, refinancing existing debt, and general corporate purposes. Additionally, the notes have been provisionally approved for listing by the Singapore Exchange, and are expected to be rated B- by Standard & Poor’s.

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