By Marisa Wong
Morgantown, W.Va., Oct. 15 – China’s Evergrande Real Estate Group Ltd. said it priced RMB 20 billion of corporate bonds on Thursday.
The bonds include RMB 17.5 billion of 7.38% five-year bonds and RMB 2.5 billion of 7.88% five-year bonds.
The coupon for the 7.38% bonds may be increased at the end of the third year, but the coupon for the 7.88% bonds is fixed.
The 7.38% bonds are also putable at the end of the third year.
Proceeds will be used to repay debt and for general working capital.
The bonds are expected to settle on Oct. 19.
The real estate developer is based in Guangzhou, China.
| Issuer: | Evergrande Real Estate Group Ltd.
|
| Issue: | Domestic corporate bonds, second tranche
|
| Amount: | RMB 20 billion
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 19
|
|
|
| 7.38% bonds
|
| Amount: | RMB 17.5 billion
|
| Maturity: | Five years
|
| Coupon: | 7.38%, may step up at end of third year
|
| Put option: | At end of third year
|
|
|
| 7.88% bonds
|
| Amount: | RMB 2.5 billion
|
| Maturity: | Five years
|
| Coupon: | 7.88%
|
|
|
|
|
© 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.
