New York, Sept. 14 – Jingrui Holdings Ltd. said its Jingrui Properties (Group) Co. Ltd. subsidiary priced RMB 1 billion of 6¾% three-year bonds at par as the first tranche of its non-public domestic corporate bonds.
Investors will have a put option at the end of the first and second years, and the issuer will have an option to adjust the coupon.
The total size was made up of an RMB 500 million base offering and an over-allotment option for a further RMB 500 million.
Proceeds will be used to refinance existing debt.
Jingrui is a Shanghai-based property developer.
| Issuer: | Jingrui Properties (Group) Co. Ltd.
|
| Issue: | Non-guaranteed bonds
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| Amount: | RMB 1 billion
|
| Maturity: | Three years
|
| Coupon: | 6¾%
|
| Price: | Par
|
| Put: | In years one and two
|
| Settlement date: | Sept. 14
|
| Distribution: | Qualified institutional investors in Chinese domestic market
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