By Marisa Wong
Los Angeles, April 2 – Country Garden Holdings Co. Ltd. said it issued on Wednesday RMB 3.4 billion of 4.2% five-year bonds through wholly owned subsidiary Country Garden Real Estate Group Co., Ltd.
The coupon was set following a book-building exercise on March 26, as previously announced.
The bonds will have a coupon adjustment option and put option at the end of the third year.
Country Garden had recently obtained regulatory approval to issue up to RMB 8,538,000,000 of bonds in tranches. This is the company’s first tranche.
Country Garden is a Foshan, China, real estate developer.
Issuer: | Country Garden Real Estate Group Co., Ltd.
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Issue: | Bonds, first tranche
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Amount: | RMB 3.4 billion
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Maturity: | Five years
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Coupon: | 4.2%
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Pricing date: | March 26
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Settlement date: | April 1
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