By Marisa Wong
Madison, Wis., Jan. 9 - Maoye International Holdings Ltd. announced that wholly owned subsidiary Shenzhen Maoye Shangsha Co. Ltd. completed its RMB 800 million issue of notes on Jan. 9.
The three-year notes have a coupon of 5.52%. The interest rate was determined through a book-building process and will be fixed throughout the term of the notes.
This is the first tranche of the RMB 2.2 billion of notes Maoye Shangsha previously registered to issue.
As noted before, proceeds from the first tranche of notes will be used for general working capital.
China Cheng Xin International Credit Rating Co. Ltd. assigned an AA rating to the notes and the issuer.
Maoye is a department store based in Shenzhen, China.
Issuer: | Shenzhen Maoye Shangsha Co. Ltd.
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Issue: | Notes
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Amount: | RMB 800 million
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Maturity: | Jan. 9, 2016
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Coupon: | 5.52%
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Settlement date: | Jan. 9
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Rating: | China Cheng Xin: AA
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