Jinmao launches tender for $600m perpetual convert

The flagship property unit of Sinochem Group hopes to buy back its outstanding -- and relatively rare -- perpetual bond as part of a capital management exercise.
Nanjing Jinmao Place is one of Jinmao's landmark commercial complex
Nanjing Jinmao Place is one of Jinmao's landmark commercial complex

China Jinmao Holdings announced on Tuesday a partial tender offer for its outstanding $600 million issue of perpetual subordinated convertible securities to help rejig its capital structure and ultimately lower its borrowing costs. 

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