By Angela McDaniels
Tacoma, Wash., Dec. 9 – China SCE Property Holdings Ltd. issued RMB 1.5 billion of 5.3% five-year domestic corporate bonds on Wednesday, , according to a company announcement.
The bonds were issued through wholly owned subsidiary Xiamen Zhongjun Industrial Co., Ltd.
The issuer is entitled to raise the coupon rate at the end of the third year.
The bonds are putable at the end of the third year.
On Oct. 19, the company announced the receipt of approval from the China Securities Regulatory Commission to issue up to RMB 3.5 billion of domestic corporate bonds in multiple tranches to be completed within 24 months.
On Oct. 29, the company issued RMB 2 billion of 5.18% five-year domestic corporate bonds.
Proceeds will be used to repay bank loans, to optimize the company’s debt structure and to replenish working capital.
China SCE is a property developer based in Xiamen, China.
| Issuer: | Xiamen Zhongjun Industrial Co., Ltd.
|
| Issue: | Domestic corporate bonds
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| Amount: | RMB 1.5 billion
|
| Tenor: | Five years
|
| Coupon: | 5.3%, which can be raised after three years
|
| Put option: | At end of year three
|
| Settlement date: | Dec. 9
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