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China Jinmao’s Franshion unit plans dollar-denominated perpetuals
By Marisa Wong
Morgantown, W.Va., Oct. 30 – China Jinmao Holdings Group Ltd. is proposing to conduct an international offering of dollar-denominated subordinated guaranteed perpetual capital securities (BB), according to a company announcement.
The securities will be issued through subsidiary Franshion Brilliant Ltd. and guaranteed by the parent company.
Goldman Sachs (Asia) LLC and Standard Chartered Bank are the agents.
Proceeds will be used to refinance existing debt and for general corporate purposes.
China Jinmao is a Hong Kong-based investment holding company that invests in and develops real estate in mainland China.
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