S.F. Holding to Raise Nearly $1.50 Billion Through Yuan Bonds
By Megan Cheah
S.F. Holding plans to raise nearly $1.50 billion through the sale of yuan-denominated bonds.
The Chinese logistics service provider is issuing the guaranteed notes in two tranches worth 5.0 billion yuan each, equivalent to $744.8 million, it said Wednesday.
One of the tranches will consist of bonds due 2029 carrying a 1.75% coupon, it said. The other will comprise notes due 2031 with a 1.85% coupon.
The company intends to use the net proceeds from the bond issuance for refinancing and general corporate purposes, it said. Its Shenzhen-listed shares closed 0.3% higher at 31.08 yuan on Tuesday, while Hong Kong-listed shares last ended down 1.1%.
HSBC and ICBC International are among financial institutions advising S.F. Holding's bond issuance.
More Chinese companies are tapping Hong Kong's market as they seek different capital pools to fund operations via share offerings and bond issuances. Hong Kong is widely seen as a gateway for foreign investors to allocate capital to Chinese assets, given the hurdles foreign capital faces in accessing the country's onshore markets.
Z.AI said on Sunday it plans to raise more than $5.0 billion through a share placement and zero-coupon convertible bonds to fuel its artificial-intelligence investments.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
September 15, 2026 20:18 ET (00:18 GMT)
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