The Business Times

Property

The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Property

SUBSCRIBERS

Japan developer sells 10b yen of debt to individuals

Tokyo Tatemono's offering is the first in more than a decade and comes after robust sales of top-floor condominiums in the capital costing more than US$3m

Published Sun, Jul 26, 2015 · 09:50 PM
Share this article.

Tokyo

TOKYO Tatemono Co sold the first bonds by a Japanese property developer to individuals in more than a decade after strong sales of top-floor condominiums in the capital costing more than US$3 million.

The 119-year-old real estate company issued 10 billion yen (S$110 million) of debt to individuals this month in its first such offering to help fund the development of apartments. The six-year notes had a coupon of 0.59 per cent, compared with as little as 0.04 per cent on a fixed bank deposit account of the same maturity.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Property

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here