Chicago, Feb. 24 – Poly Property Group Co., Ltd.’s wholly owned subsidiary, Shanghai Poly Property, issued RMB 2 billion of corporate bonds in a domestic sale, according to a notice.
The bonds are being issued in two parts and were sold to qualified investors.
The company sold RMB 1 billion of 3.7% bonds with a term of three years plus two years.
Also included in the sale was RMB 1 billion of 4.2% bonds with a five-year plus two-year term.
Proceeds will be used to repay debts and for working capital purposes.
The bonds will be listed on the Shanghai Stock Exchange.
Poly Property is a residential and commercial property company based in Hong Kong.
Issuer: | Shanghai Poly Property
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Amount: | RMB 2 billion
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Issue: | Corporate bonds
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Settlement date: | Feb. 24
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Distribution: | Public
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First tranche
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Amount: | RMB 1 billion
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Tenor: | Three years plus two years
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Coupon: | 3.7%
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Second tranche
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Amount: | RMB 1 billion
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Tenor: | Five years plus two years
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Coupon: | 4.2%
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