By Marisa Wong
Los Angeles, May 29 – Times China Holdings Ltd. subsidiary Guangzhou Times Holdings Group Co., Ltd. issued domestic corporate bonds totaling RMB 2.5 billion on May 26, according to a company news release.
The five-year bonds carry a coupon of 5.24% initially. At the end of the third year, there is a coupon adjustment option and put option.
BOC International (China) Co., Ltd. was the lead underwriter. Southwest Securities Co., Ltd. and Zhongshan Securities Co., Ltd. acted as the joint underwriters.
The non-guaranteed bonds are listed on the Shanghai Stock Exchange.
Proceeds are expected to be used to refinance some of the group’s existing debt.
Times China is a property development holding company based in Guangzhou, China.
| Issuer: | Guangzhou Times Holdings Group Co., Ltd.
|
| Issue: | Public domestic corporate bonds
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| Amount: | RMB 2.5 billion
|
| Maturity: | Five years
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| Underwriters: | BOC International (China) Co., Ltd. (lead), Southwest Securities Co., Ltd. and Zhongshan Securities Co., Ltd.
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| Coupon: | 5.24%, adjustable at end of third year
|
| Put option: | At end of third year
|
| Settlement date: | May 26
|
| Ratings: | United Credit Rating: AAA
|
| China Chengxin Securities Rating: AAA
|
| Listing: | Shanghai Stock Exchange
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