By Marisa Wong
Morgantown, W.Va., Oct. 24 – Country Garden Holdings Co. Ltd. announced that wholly owned subsidiary Guangdong Giant Leap Construction Co., Ltd. issued RMB 1 billion of four-year series 1 bonds and RMB 2 billion of seven-year series 2 bonds on Oct. 21.
Initially, the series 1 bonds carry a coupon of 3.2%, and the series 2 bonds carry a coupon of 3.9%. The interest rate is adjustable at the end of the second year for the series 1 bonds and at the end of the fifth year for the series 2 bonds.
The bonds will be putable on their respective coupon reset dates.
Guotai Junan Securities Co., Ltd. is the underwriter.
The company announced on Oct. 18 that it was looking to issue up to RMB 3 billion of domestic corporate bonds in the last quarter of 2016 with pricing to be determined through a bookbuilding process.
Proceeds are earmarked for general working capital purposes.
Country Garden is a Foshan, China-based real estate developer focused on large-scale residential communities.
| Issuer: | Guangdong Giant Leap Construction Co., Ltd.
|
| Issue: | Domestic corporate bonds
|
| Amount: | RMB 3 billion
|
| Underwriter: | Guotai Junan Securities Co., Ltd.
|
| Announcement date: | Oct. 18
|
| Settlement date: | Oct. 21
|
|
|
| Series 1
|
| Amount: | RMB 1 billion
|
| Maturity: | Four years
|
| Coupon: | 3.2% initially, adjustable at end of second year
|
| Put option: | At end of second year
|
|
|
| Series 2
|
| Amount: | RMB 2 billion
|
| Maturity: | Seven years
|
| Coupon: | 3.9% initially, adjustable at end of fifth year
|
| Put option: | At end of fifth year
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
