By William Gullotti
Buffalo, N.Y., Feb. 24 – China Cinda Asset Management Co., Ltd. issued RMB 12 billon of perpetual capital notes with a 4.33% starting coupon, according to an announcement on Thursday.
The coupon will reset every five years.
The notes are redeemable starting on the first reset date and then on every dividend payment date going forward.
Proceeds will be used to replenish the additional tier 1 capital of the company.
Based in Beijing, China Cinda provides asset management, consulting, investment, financial and risk management services to individuals and businesses.
| Issuer: | China Cinda Asset Management Co., Ltd.
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| Amount: | RMB 12 billion
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| Issue: | Capital bonds
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| Tenor: | Perpetual
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| Coupon: | 4.33%, starting rate; resets every five years
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| Call option: | On first reset date and on dividend payment dates thereafter
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| Pricing date: | Feb. 22
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| Issue date: | Feb. 24
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