華南城(01668.HK)取得14億人民幣銀行融資 獲國際機構認可 債務結構進一步優化
近日，華南城控股有限公司就深圳華南城4號交易廣場獲得一國有大型商業銀行同意14億人民幣的物業抵押融資(其中8.3億為15年期的長期融資)，充分挖掘物業價值，繼續保持債務結構和融資成本優化的步伐，也反映金融機構對華南城的信用以及資產質素的認可。這是繼8月初在海外成功發行2億美元優先票據，並獲得12倍超額認購後，華南城在融資上的又一大突破。
2019年12月，深圳華南城與萬達集團就上述物業簽訂20年經營期合作協議，項目總面積約30.5萬平方米，該合作將極大豐富華南城的經營業態，結合華南城的多業態專業市場、綜合商業、電子商務、倉儲物流和生活配套等，全新一代萬達廣場的落户將有效聚集商圈人流，帶動綜合商貿平台的業務流，加快推進華南城園區的升級步伐。
2020年8月27日，穆迪給予華南城 “B2”發行人評級，展望穩定。該評級反映了華南城在中國開發和運營綜合物流和貿易中心的經驗，良好的盈利能力，不斷增長的運營和經常性收入，該評級還考慮了華南城不斷增長的非開發收入來源，包括租金、物業管理、物流和倉儲服務以及零售業務，其中許多業務是通過與客户簽訂長期合同獲得的。穆迪預計這些經常性收入將有助於緩和房地產開發項目銷售帶來的現金流波動。8月12日，標普將其對華南城的長期發行人信用評級從“B-”上調至“B”，並將其對公司的高級無擔保票據的長期發行評級從“CCC+”上調至“B-”。標普認為，華南城向快速週轉業務模式的轉型展現出積極的成效，該轉變將帶來可持續的房地產銷售收入和穩定的持續性收入增長，以支持其槓桿率的改善。而"穩定"的展望也反映了標普的觀點，即華南城將在未來一到兩年內，通過嚴格的土地收購，合同銷售額和持續性收入將繼續保持温和增長。
與此同時，匯豐、野村、國泰君安等國際知名金融機構基於華南城穩健的業務增長以及領先的商業模式，也對華南城的債券和股票分別給予“增持”和“買入”的評級。
未來，華南城將會保持與境內外金融機構的緊密合作，持續改善債務結構，降低運營成本，為長期發展打下堅實基礎。
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