Key facts
- Seazen Holdings issued a 100 million yuan unsecured domestic bond.
- This is Seazen's first pure credit note in over four years.
- The bond is part of a 400 million yuan debt offering.
- A 300 million yuan tranche is backed by commercial real estate valued at 603 million yuan.
Seazen Holdings Co. Ltd. has issued a 100 million yuan ($15 million) unsecured domestic bond, marking the private Chinese developer’s first pure credit note in more than four years. This issuance represents a rare breakthrough for a sector that has largely been shut out of capital markets. The Shanghai-listed builder completed bookbuilding on Sept. 21 for a broader 400-million-yuan debt offering underwritten by Citic Securities Co. Ltd. The transaction included a 300-million-yuan tranche backed by commercial real estate valued at 603 million yuan, alongside the 100-million-yuan unsecured tranche.