By Marisa Wong
Morgantown, W.Va., Jan. 7 – Maoye International Holdings Ltd. announced that its wholly owned subsidiary, Shenzhen Maoye Trade Building Co. Ltd. (Maoye Shangsha), issued RMB 2.8 billion of bonds in two tranches on Thursday.
The company issued RMB 1.1 billion of three-year first-tranche bonds and RMB 1.7 billion of five-year second-tranche bonds.
The first-tranche bonds have a 4% coupon, and the second-tranche bonds have a 4½% coupon.
The company previously announced that it planned to offer up to RMB 1 billion of bonds with an over-allotment option for up to an additional RMB 1.8 billion of bonds.
BOC International is the underwriter, as noted before.
Proceeds will be used for general working capital and to repay debt.
Dagong Global Credit Rating Co. Ltd. has assigned an AA rating to the bonds.
Maoye is a department store based in Shenzhen, China.
| Issuer: | Shenzhen Maoye Trade Building Co. Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 2.8 billion
|
| Underwriter: | BOC International
|
| Pricing date: | Jan. 5
|
| Settlement date: | Jan. 7
|
| Rating: | Dagong Global Credit Rating: AA
|
|
|
| First tranche
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| Amount: | RMB 1.1 billion
|
| Maturity: | Three years
|
| Coupon: | 4%
|
|
|
| Second tranche
|
| Amount: | RMB 1.7 billion
|
| Maturity: | Five years
|
| Coupon: | 4½%
|
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