Sunland Group
(ASX:SDG) has announced it has successfully completed its unsecured note offering.
The property developer says the note offering met strong demand and consequently oversubscriptions of $10 million were accepted, increasing the offer to $50 million.
The proceeds of the offer will be used to fund future residential developments, property inventories and working capital of the group.
Sunland’s national development portfolio comprises in excess of 6000 residential land, housing and multi-storey products with a total value of $3.7 billion.
Sunland reported a net profit of $30.06 million at 30 June 2015.
