By Marisa Wong
Los Angeles, Dec. 16 – Joy City Property Ltd. said it issued RMB 1.5 billion of 4¼% notes with an initial term of three years.
Proceeds from the first-tranche medium-term notes will be used to repay bank loans.
In November the company had announced plans to issue up to RMB 3 billion of medium-term notes with initial maturities of three or five years.
Joy City is a real estate company based in Hong Kong and is a member of the Cofco Group.
| Issuer: | Joy City Property Ltd.
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| Issue: | Medium-term notes, first tranche
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| Amount: | RMB 1.5 billion
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| Maturity: | Three years (renewable after three years)
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| Coupon: | 4¼%
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| Settlement date: | Dec. 16
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