China Developer Seazen Plans $300 Million Offshore Bond Issuance

Chinese property developer Seazen Group is planning to issue dollar-denominated bonds worth between $250 million and $300 million to address its debt concerns and buy back existing bonds maturing in 2025. This proposed offshore bond issuance marks a rare move for a private Chinese real estate firm amid the ongoing property sector crisis, which has seen many developers default on debt and lose access to foreign financing. The offering aims to optimize Seazen's debt structure and improve liquidity, with proceeds expected to be used to repay bonds due in July and October 2025. Seazen has weathered the sector downturn better than many rivals, and the bond sale has been positively received by investors, with the company's shares rising and boosting confidence in other mainland developers. The issuance, planned with several underwriters, could signal a potential turnaround for private developers by improving international investor sentiment and providing greater financial flexibility. However, market analysts remain cautious due to the broader challenges in China's property market, including weak demand and slowing recovery momentum.