By Marisa Wong
Morgantown, W.Va., March 18 – Sino-Ocean Group Holding Ltd. announced that wholly owned subsidiary Sino-Ocean Holding Group (China) Ltd. priced RMB 2.9 billion of corporate bonds on Friday.
The bonds consist of two classes: RMB 1.7 billion of five-year class I bonds with a coupon of 4.06% and RMB 1.2 billion of seven-year class II bonds with a coupon of 4.59%.
The bonds have a coupon adjustment option and put option at the end of the third year for the class I bonds and at the end of the fifth year for the class II bonds.
Proceeds will be used to repay existing debt.
The property developer is based in Beijing.
| Issuer: | Sino-Ocean Holding Group (China) Ltd.
|
| Issue: | Corporate bonds
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| Amount: | RMB 2.9 billion
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| Pricing date: | March 15
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| Settlement date: | March 18
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| Rating: | China Chengxin Securities Rating Co. Ltd.: AAA
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|
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| Class I bonds
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| Amount: | RMB 1.7 billion
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| Maturity: | Five years
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| Coupon: | 4.06%, may be adjusted at end of third year
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| Put option: | At end of third year
|
|
|
| Class II bonds
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| Amount: | RMB 1.2 billion
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| Maturity: | Seven years
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| Coupon: | 4.59%, may be adjusted at end of fifth year
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| Put option: | At end of fifth year
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