By Marisa Wong
Morgantown, W.Va., Nov. 22 – China Huarong Asset Management Co., Ltd. announced it issued RMB 25 billion of three- and five-year fixed-rate bonds on Nov. 18.
The three-year bonds carry a coupon of 3.35%, and the five-year bonds carry a coupon of 3.54%. The tranche sizes for the two types of bonds were not disclosed.
Proceeds will be used to supplement working capital, optimize the company’s asset and liabilities structure, promote business development and financial innovation and support the purchase of distressed assets portfolios.
The state-owned asset manager is based in Beijing.
| Issuer: | China Huarong Asset Management Co., Ltd.
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| Issue: | Fixed-rate bonds
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| Amount: | RMB 25 billion
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| Maturity: | Three and five years
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| Coupon: | 3.35% for three-year bonds, 3.54% for five-year bonds
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| Settlement date: | Nov. 18
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