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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.


(For more biz stories, please visit Industry Updates)
 
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