Evergrande plans RMB 5 billion bond tranche talked at 4.3%-5.8%

By Marisa Wong

Madison, Wis., June 17 – China’s Evergrande Real Estate Group Ltd. announced it has applied to issue up to RMB 20 billion of domestic corporate bonds. The China Securities Regulatory Commission approved Evergrande’s application on June 10.

The domestic bonds will be issued in stages. The initial tranche will be RMB 5 billion of five-year bonds. Price talk ranges from 4.3% to 5.8%.

These initial bonds will be putable at the end of the third year, at which time the company may elect to increase the coupon.

Guotai Junan Securities Co. Ltd., Citic China Securities Co. Ltd. and China Merchants Securities Co., Ltd. will act as joint lead underwriters.

The real estate developer is based in Guangzhou, China.

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