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FACTBOX-Chinese real estate firms fund raising deals

Fri Mar 13, 2009 3:01am EDT

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March 13 (Reuters) - Chinese developers, once the darling of overseas investors, are turning to their home market to meet their financial obligations as foreign funding for real estate dries up due to the global financial crisis.

For an analysis on China's real estate sector, click [ID:HKG13988]

Here are some recent fund raising actions by Chinese developers:

SHARE SALES

* China Overseas Land (0688.HK), the largest Hong Kong-listed Chinese property developer, said in December it planned to issue a HK$2.5 billion ($320 million) rights share issue, raising capital to strengthen its financial position.

* Smaller rivals Franshion Properties (China) (0817.HK) said in February it aimed to issue HK$2.72 billion ($349 million) rights shares, raising capital to fund acquisitions.

* Poly Real Estate Group Co (600048.SS) said last month it planned a share placement of up to 8 billion yuan ($1.17 billion), raising capital to fund 8 property projects.

DOMESTIC BONDS

* China Vanke (000002.SZ), the country's biggest listed developer, plans to issue 6 billion yuan ($877.3 million) worth of bonds to improve its debt structure and boost working capital.

* Guangzhou R&F Properties (2777.HK) aims to issue about 6 billion yuan ($877.3 million) to repay bank loans.

* Beijing North Star (601588.SS)(0588.HK) planned to issue up to 1.7 billion yuan ($248.6 million) corporate bonds to improve liquidity.

* Shanghai Forte Land (2337.HK), which saw its profit dive 86 percent in 2008 amid a downturn in China's real estate market, plans to issue up to 1.9 billion yuan ($277.8 million) worth 5-8 years domestic corporate bonds to enhance capital strength.

BANK LOANS

* Beijing-focused commercial real estate developer SOHO China Ltd (0410.HK) said in March it secured credit and financing facilities, including loans for developments, and for merger and acquisitions, of up to 10 billion yuan ($1.46 billion) from the Beijing branch of Bank of China. (US$1=HK$7.8=6.839 yuan)



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