Chinese real estate developer to sell US dollar bonds

A statement to the Hong Kong stock exchange has revealed that Central China Real Estate Ltd. plans to sell bonds denominated in U.S. dollars to fund property projects…

Deutsche Bank AG, Nomura Holdings Inc. and ING Groep NV will manage the sale and help arrange meetings with investors starting this week, according to the statement.

Central China Real Estate, which develops residential property in China's Henan province according to its website, has the Hong Kong dollar equivalent of $99 million of bonds maturing in 2014, according to data compiled by Bloomberg.

The company will meet with bond investors in Hong Kong on Oct. 8, Singapore on Oct. 11, London on Oct. 12, New York on Oct. 13 and finish in Boston on Oct. 14, a person familiar with the matter said, asking not to be identified as details are private.

Source: Businessweek