** Shares of Greentown China 3900.HK fall 2.3% to HK$9.27, on course for the biggest one-day pct decline since Feb. 11
** Stock on track to snap four straight sessions of gain
** The state-backed property developer on Tuesday said it proposed to issue additional bonds worth $350 mln to help refinance its existing borrowings, mirroring a similar move it made last week
** Company last week said it sold $350 mln worth of 8.45% senior notes due in 2028, in a sign that some investor appetite for speculative-grade China property debt could be returning
** Hang Seng Mainland Properties Index .HSMPI falls 1.8%, index tracking properties and construction stocks .HSCIPC eases 1.3%, while Hang Seng Index .HSI climbs 0.7%
** Stock rose 16.5% last year
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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