Daiwa: Henderson Land Development (0012) issued convertible bonds to reduce financing costs positively, and remains constructive on developers and the Hong Kong residential market.

According to the Wise Financial News APP, Morgan Stanley released a research report stating that Henderson Land Development Co., Ltd. (00012) proposed issuing 8 billion Hong Kong dollars of convertible bonds due in 2030 with a coupon rate of 0.5% per annum. The initial conversion price is 36 Hong Kong dollars, representing a premium of 26.98% over the closing price of the previous day (8th); The convertible bonds can be exchanged for approximately 222 million new shares, equivalent to an increase in the enlarged share capital of 4.39%. The net proceeds of 7.92 billion Hong Kong dollars are intended for general corporate purposes and/or refinancing.