On 3 June 2021, Jiangsu Zhongnan Construction Group Co., Ltd. (000961.SZ) successfully issued US$150 million 12% 364-day senior notes due 2022. Admiralty Harbour acted as Joint Bookrunner and Joint Lead Manager for the new offering.
In light of the upcoming maturity of its outstanding 364-day senior notes due in August 2021, the Company managed to arrange the refinancing in a prudent yet practical manner. It is believed that the efforts to strengthen its financial robustness will be beneficial to investors and other stakeholders and the Company itself. Given the volatility of credit market and the shaking of prices of single-B property names in last few months, it is a challenging task to make the new issuance happen but finally we made it. Congratulations to Zhongnan!