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China’s Gemdale lists $2 billion guaranteed medium-term note program
By Cady Vishniac
Detroit, Jan. 7 – Gemdale Ever Prosperity Investment Ltd. has launched a $2 billion medium-term note program, according to a news release.
Parent company Famous Commercial Ltd. will be the guarantor for notes under the program, while indirect parent Gemdale Corp. will provide a keepwell deed and a deed of equity interest purchase undertaking.
China International Capital Corp. will be arranger and dealer on the Regulation S program.
Application has been made to the Stock Exchange of Hong Kong Ltd. for a 12-month listing of the note program. Listing is expected to become effective on Thursday.
Gemdale is a Shenzhen, China-based real estate developer.
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