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Henderson Land Development stock drops 4.9% as company issues $1 billion convertible bonds
ByAinvest
Tuesday, Jul 8, 2025 9:23 pm ET1min read
Henderson Land Development stock drops 4.9% as company issues $1 billion convertible bonds
Henderson Land Development Co. (HLD) announced on July 8, 2025, that it intends to raise HK$7.85 billion ($1 billion) via the issuance of convertible bonds. The bonds, due in 2030, will be issued through Happy Ever Holdings Ltd., an indirectly wholly owned unit, with an annual coupon of 0.50% payable quarterly. The company has the option to increase the size of the offering by HK$150 million. The convertible bonds have a conversion premium of 26.98% to 36.86% over Henderson’s close on Tuesday [2].The proceeds from the bond issuance will be used for general corporate purposes and possible refinancing, according to the terms of the deal seen by Bloomberg News [2]. Henderson shares have gained 20% this year and are up 43% from their April low, closing at HK$28.35 on July 2, 2025 [2].
Following the announcement, Henderson Land Development's stock dropped by 4.9% on July 2, 2025. The company's properties include iconic buildings such as the International Finance Centre and the Henderson, as well as a prime commercial project along Victoria Harbour in Central [2]. HSBC Holdings Plc is the sole global coordinator, sole bookrunner, and sole lead manager on the deal [2].
Henderson Land Development has a history of innovation and sustainability, as highlighted in its FY2024 Annual Results Highlights [3]. The company has been diversifying its funding sources, including through bond issuances, to support its ongoing business development [4].
References:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3T5141:0-hong-kong-s-henderson-land-development-to-raise-1-billion-via-bond-issuance/
[2] https://www.bloomberg.com/news/articles/2025-07-08/henderson-land-seeks-1-billion-from-convertible-bonds
[3] https://www.hld.com/en/investor-information
[4] https://www.tradingview.com/news/reuters.com,2025:newsml_L4N3T5148:0-hk-s-henderson-land-to-raise-1-billion-via-bond-issue/
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