Zhong Guo Jing Ying Bao·2026-02-27 00:10Group 1 - The core viewpoint of the article highlights that New City Holdings successfully issued $355 million in senior secured notes, reinforcing its overseas financing channels and demonstrating strong recognition from international investors regarding its stable operations and future development [1][2] - The funds raised from this bond issuance will primarily be used for financing a tender offer due in 2026, refinancing existing debt, and general corporate purposes [1] - Since June 2025, New City has been actively opening overseas financing channels, with this successful issuance further solidifying its financing foundation in the international capital market [1] Group 2 - New City is one of the few private real estate companies to successfully issue U.S. dollar bonds, having completed three overseas debt issuances, which reflects the international capital market's high recognition of its operational fundamentals and risk resilience [2] - According to recent research from CITIC Securities, New City Holdings has seen steady growth in operating income and has made significant progress in its asset operation transformation, leading to EPS forecasts of 0.42 yuan, 0.52 yuan, and 0.63 yuan for 2025-2027 [2] - The company maintains a buy rating and a target price of 21.82 yuan, indicating confidence in its future performance [2]