Ho Bee Investment, a Singapore- based property developer, plans to finance its expansion into Chinese real estate by selling bonds for the first time.

Ho Bee, together with Yanlord Land Group, bought a residential development site in Shanghai for 3.82bn yuan ($560m) in February and yesterday set up a S$800m ($580m) multicurrency medium-term note program.

“The interest-rate environment is in our favor and the active bond market bodes well for us,” Desmond Woon, executive director of finance, said in a phone interview from Singapore today. The notes will likely be denominated in Singapore or US dollars and have tenors of three to five years, he said.