By Marisa Wong
Madison, Wis., July 26 - Maoye International Holdings Ltd. announced that wholly owned subsidiary Shenzhen Maoye Shangsha Co. Ltd. completed its RMB 800 million issue of notes on July 26.
The notes have a tenor of 365 days and a coupon of 4.29%. The interest rate was determined through a book-building process and will be fixed throughout the term of the notes.
This is Maoye Shangsha's second tranche of notes. Maoye previously announced that its subsidiary plans to issue a total of up to RMB 1.6 billion of notes in China. Maoye Shangsha completed the first tranche - RMB 800 million of 6.14% notes - in February.
As noted before, proceeds from the second tranche of notes will be used for general working capital.
China Cheng Xin International Credit Rating Co. Ltd. assigned an A-1 rating to both tranches 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: | Notes
|
| Amount: | RMB 800 million
|
| Maturity: | 365 days
|
| Coupon: | 4.29%
|
| Settlement date: | July 26
|
| Rating: | China Cheng Xin: A-1
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