RRJ Capital Invests $50M in Chinese Property Developer CIFI Holdings

Shanghai-based Chinese real estate developer CIFI Holdings (Group) Co. Ltd. says RRJ Capital has agreed to invest US$50 million in the company.

RRJ Capital will buy 257 million newly issued shares of Hong Kong-listed CIFI Holdings at HK$1.52 apiece, representing a 4.1% premium to the October 16 closing price.

After the transaction, RRJ Capital will hold a 4.3% stake in CIFI Holdings.

CIFI Holdings say it will use the proceeds to acquire new projects or land.

In September, RRJ Capital purchased US$100 million of a US$225 million senior notes issued by CIFI Holdings.

The remainder of the bonds was placed with Citigroup, Standard Chartered, Deutsche Bank, HSBC and Haitong International.

CIFI Holdings also announced that it has signed a memorandum of agreement with New York Stock Exchange-listed Chinese wealth management firm Noah Private Wealth Management for a strategic partnership.

CIFI is one of China’s 50 largest real estate developers by sales revenue. The company primarily focuses on developing small to mid-size residential properties and commercial properties.

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