By William Gullotti
Buffalo, N.Y., April 6 – 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 an announcement on Thursday.
The company sold RMB 500 million of 3.47% bonds with a term of three years plus two years.
Also included in the sale was RMB 1.5 billion of 3.88% 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, 2023 second tranche
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Issue date: | April 6
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First tranche
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Amount: | RMB 500 million
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Tenor: | Three years plus two years
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Coupon: | 3.47%
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Second tranche
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Amount: | RMB 1.5 billion
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Tenor: | Five years plus two years
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Coupon: | 3.88%
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