China's realty player Country Garden plans $340m sukuk bond issue in Malaysia

China's realty player Country Garden plans $340m sukuk bond issue in Malaysia

Visual from the company website featuring Country Garden — Ten Miles Coast project at HK Shengzhen Metropolis International Coastal City

Chinese property developer Country Garden Holdings Company Ltd plans to issue up to MYR1.5 billion ($340 million) of medium-term Islamic bonds, or sukuk, through its Malaysian subsidiary, to finance the latter’s present and future investments.

The issuer, Country Garden Real Estate Sdn Bhd, plans to commence marketing of the first tranche of medium term notes (MTN) to qualified investors. The MTN will not be offered to the general public and will not be listed on any securities exchange, Country Garden said in a stock exchange filing on the Hong Kong Stock Exchange.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter