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Redco US-dollar bond issue

Redco is a fast-growing Hong Kong-listed Chinese property developer that approached SC Lowy to assist it with its capital-raising needs in connection with refinancing existing indebtedness, and financing existing and new property-development projects. 

Objective

SC Lowy was selected by Redco to serve as joint bookrunner and underwriter for the inaugural US-dollar bond issue for Redco Properties Group Ltd (“Redco”).

Transaction Process 

SC Lowy, along with a select consortium of bookrunners and underwriters, worked closely with the company and successfully placed US$125 million 13.75% senior notes due 2019 with clients ranging from institutional investors to hedge funds.  

Outcome

Redco, with its debt refinanced, was able to use the proceeds to invest in a new land bank, clearing the way for future growth. The transaction marked a material step for SC Lowy in terms of the development of its Debt Capital Markets (DCM) business.