- Chinese developer, Japan bank agree to cooperate on financing
- Mizuho will offer property investment targets in Japan
Greenland Holdings Corp., China’s biggest listed developer, said Mizuho Financial Group Inc. will help it with debt financing as the builder seeks overseas investment.
The Japanese lender will supply bond-market and international capital market services to Greenland, according to an e-mailed statement from the builder Monday. Mizuho will also provide the developer with property investment targets in Japan and services in asset management, after the two agreed to cooperate on global businesses including financing, the statement said.
The tie-up is the latest international foray for Greenland, which said last week that it will invest in infrastructure in Moscow and develop high-end residential and office projects. The builder will strengthen its overseas business within the next five years, it said at the time.
Mizuho will support Greenland’s funding in part by yen bond sales, the Nikkei newspaper reported Monday without giving details, citing Mizuho President Yasuhiro Sato. No Chinese developer has issued yen-denominated bonds before, according to data compiled by Bloomberg.
A Greenland media official who wouldn’t be identified declined to comment on any bond sale plans.
— With assistance by Judy Chen