By Marisa Wong
Madison, Wis., Feb. 16 - Maoye International Holdings Ltd. announced that its wholly owned subsidiary, Shenzhen Maoye Shangsha Co. Ltd., issued RMB 800 million of 6.14% notes on Feb. 16.
The notes have a tenor of 366 days.
This is Maoye Shangsha's first tranche of notes. According to a previous announcement, the subsidiary plans to issue a total of up to RMB 1.6 billion of notes in China.
Proceeds will be used to repay bank loans and for general working capital.
China Cheng Xin International Credit Rating Co. Ltd. assigned an A-1 rating to the first tranche of notes and an AA rating to the issuer.
Maoye is a department store based in Shenzhen, China.
| Issuer: | Shenzhen Maoye Shangsha Co. Ltd.
|
| Issue: | Short-term fixed-rate notes
|
| Amount: | RMB 800 million
|
| Maturity: | 366 days
|
| Coupon: | 6.14%
|
| Settlement date: | Feb. 16
|
| Rating: | China Cheng Xin: A-1
|
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