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BIZCHINA / Biz Media Digest

Property: US$40m to fund Dalian project
(HK Edition)
Updated: 2006-04-06 14:36

Medium-sized Hong Kong property developer Coastal Greenland said yesterday it would raise US$40 million (HK$312 million) by issuing senior notes to three institutional investors.

Coastal Greenland Chairman Chan Boon-teong said that the funds raised through the issue is mainly to finance a project in Dalian and tap the property market in Northeast China's Liaoning Province.

He, however, declined to identify the three investors. Merrill Lynch Far East will handle the deal.


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