China’s Country Garden proposes RMB 20 billion corporate bonds

By Marisa Wong

Morgantown, W.Va., Dec. 3 – Country Garden Holdings Co. Ltd. is looking to issue up to RMB 20 billion of domestic corporate bonds in tranches, according to a company notice.

Pricing will be determined through a bookbuilding process.

Proceeds are expected to be earmarked for refinancing existing debt and for general working capital purposes.

Country Garden is a Foshan, China-based real estate developer focused on large-scale residential communities.

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