China’s Evergrande Real Estate issues $1.5 billion of 9% perpetuals

By Susanna Moon

Chicago, Dec. 29 – Evergrande Real Estate Group Ltd. said it issued $1.5 billion of perpetual securities, with an initial coupon of 9%.

The initial distribution rate was adjusted from 7%, according to a company announcement.

The subscription closed on Tuesday.

The real estate developer is based in Guangzhou, China.

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