By Devika Patel
Knoxville, Tenn., June 21 – Poly Property Group Co., Ltd. wholly owned subsidiary Shanghai Poly Property sold RMB 1 billion of medium-term notes on June 20, according to an announcement.
The notes were sold in two parts, including RMB 500 million of 3.17% three-year notes and RMB 500 million of 3.68% five-year notes.
Proceeds will be used for property development projects.
Shanghai Poly could issue up to RMB 5 billion of medium-term notes in multiple tranches over the next two years, the announcement stated.
Poly Property is a residential and commercial property company based in Hong Kong.
| Issuer: | Shanghai Poly Property
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| Issue: | Medium-term notes
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| Amount: | RMB 1 billion
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| Settlement date: | June 20
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| Three-year notes
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| Amount: | RMB 500 million
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| Maturity: | June 20, 2025
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| Coupon: | 3.17%
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| Five-year notes
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| Amount: | RMB 500 million
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| Maturity: | June 20, 2027
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| Coupon: | 3.68%
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