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China Jinmao to sell up to RMB 2 billion five-year bonds at 3%-4.2%
By Marisa Wong
Los Angeles, Aug. 23 – China Jinmao Holdings Group Ltd. said it plans to issue up to RMB 2 billion of five-year domestic corporate bonds through indirect wholly owned subsidiary Shanghai Jinmao Investment Management Group Co., Ltd.
The indicative coupon rate is between 3% and 4.2%, according to a company announcement. The final rate will be determined through a book-building process.
At the end of the third year, the bonds will have a coupon adjustment option and a put option.
Proceeds will be used to repay debt.
China Jinmao is a Hong Kong-based investment holding company that invests in and develops real estate in mainland China.
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