By Marisa Wong
Morgantown, W.Va., June 21 – China’s Springland International Holdings Ltd. said its wholly owned subsidiary, Jiangsu Springland International Holdings (Group) Ltd., issued RMB 800 million of 4.87% three-year bonds at par on Tuesday.
This is the company’s first tranche of corporate bonds for 2016. The company had previously registered to issue up to RMB 2 billion of bonds with maturities of no more than five years.
China Merchants Securities Co., Ltd. is the lead underwriter and bookrunner.
Proceeds will be used to repay debt and for general working capital.
Springland is a Hong Kong-based operator of department stores and supermarkets in the Yangtze River delta region of China.
| Issuer: | Jiangsu Springland International Holdings (Group) Ltd.
|
| Issue: | Corporate bonds, 2016 first tranche
|
| Amount: | RMB 800 million
|
| Maturity: | Three years
|
| Bookrunner: | China Merchants Securities Co., Ltd.
|
| Coupon: | 4.87%
|
| Price: | Par
|
| Yield: | 4.87%
|
| Settlement date: | June 21
|
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