By Marisa Wong
Morgantown, W.Va., Oct. 23 – Far East Horizon Ltd. announced on Friday that its wholly owned subsidiary, International Far Eastern Leasing Co., Ltd., had issued RMB 2 billion of 3.4% one-year bonds on Oct. 13.
Far Eastern Leasing previously registered to issue RMB 2 billion of short-term financing bonds in China. The subsidiary planned to issue notes in tranches within two years of Sept. 14.
China Merchants Bank Co. Ltd. and China Everbright Bank Co. Ltd. are the joint lead underwriters, and China Merchants Bank is the bookrunner.
Proceeds will be used primarily to repay bank loans.
Far East Horizon is a financial leasing unit of Sinochem Group, which is a Hong Kong-based business conglomerate with interests in agriculture, energy, chemicals, real estate and finance.
| Issuer: | International Far Eastern Leasing Co., Ltd.
|
| Issue: | Short-term financing bonds
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| Amount: | RMB 2 billion
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| Maturity: | One year
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| Underwriters: | China Merchants Bank Co. Ltd. and China Everbright Bank Co. Ltd.
|
| Coupon: | 3.4%
|
| Settlement date: | Oct. 13
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