By Marisa Wong
Madison, Wis., May 26 - Dalian Port (PDA) Co. Ltd. announced that it completed the issue of RMB 2.35 billion of domestic corporate bonds to the public on Wednesday.
The bonds were issued at par of RMB 100 through an online public offer and an offline issue to institutional investors.
The total amount subscribed online was RMB 235 million, which represents 10% of the total principal amount of domestic corporate bonds. The remaining RMB 2,115,000,000, or 90% of the total principal amount, was subscribed to offline.
The bonds carry a coupon of 5.3%, according to an earlier company announcement.
As previously reported, proceeds will be used to adjust debt structure, repay bank loans and contribute to the working capital of the company.
The Dalian City, China-based company owns and manages the Port of Dalian.
| Issuer: | Dalian Port (PDA) Co. Ltd.
|
| Issue: | Domestic corporate bonds
|
| Amount: | RMB 2.35 billion
|
| Coupon: | 5.3%
|
| Price: | Par of RMB 100
|
| Yield: | 5.3%
|
| Settlement date: | May 25
|
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