HK Stock Market Move | SEAZEN (01030) is currently up more than 4%, the company has recently successfully issued US dollar bonds, and Moody's has raised its outlook to "positive".

SEAZEN (01030) is now up more than 4%, as of the time of writing, it has increased by 4.52%, reaching HK$2.31, with a trading volume of HK$28.59 million. On the news front, on June 12th, SEAZEN issued US$300 million in offshore bonds with a maturity of three years and a coupon rate of 11.88%. The company also launched a tender offer to partially repurchase its senior notes due in July 2025 and October 2025 at prices of 100% and 98.5% of face value, respectively, with a total outstanding amount of US$600 million. Analysts point out that this development marks a significant improvement in New City's financing channels. This issuance signifies the first successful issuance of US dollar bonds by a Chinese private real estate developer after a absence of over two years. The issuance of the new bonds will also significantly alleviate SEAZEN's refinancing risk in the next six months. On June 19th, Moody's revised SEAZEN's outlook from negative to positive. Moody's also confirmed SEAZEN's "Caa1" corporate family rating (CFR) and the "Caa2" supported senior unsecured rating for bonds issued by New Metro Global Limited and guaranteed by SEAZEN or Seazen Holdings.