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China’s Jingrui plans up to RMB 1.7 billion domestic corporate bonds
By Marisa Wong
Morgantown, W.Va., Feb. 25 – Jingrui Holdings Ltd. is proposing to issue up to RMB 1.7 billion of domestic corporate bonds in stages, according to a company announcement.
The bonds will be issued through wholly owned subsidiary Jingrui Properties (Group) Co. Ltd.
Guotai Junan Securities (Hong Kong) Ltd. will act as lead underwriter.
The company intends to use the proceeds from the new bonds to refinance existing debt.
United Ratings Co. Ltd. has assigned an AA rating to the bonds.
Jingrui is a Shanghai-based property developer.
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