CSI Properties Sells Its First Dollar Bond in Four Years

CSI Properties Ltd. sold its first dollar bond in four years, a move that could potentially ease liquidity concerns for the builder amid a prolonged real estate slump in Hong Kong and China.

The Hong Kong-headquartered developer, through its wholly owned subsidiary ESL, sold a $150 million three-year note with a coupon of 10.5% on Wednesday. Proceeds will be used for repayment of certain debt obligations, including a 5.45% dollar bond due July 21 with about $296 million of principal outstanding. CSI previously sold a dollar bond in 2021.