Yuexiu Property eyes up to RMB 2.5 billion five-, seven-year bonds

By Marisa Wong

Los Angeles, July 16 – Yuexiu Property Co. Ltd. said its 95% owned subsidiary, Guangzhou City Construction & Development Co. Ltd., is planning a tranche of corporate bonds totaling up to RMB 2.5 billion.

The fixed-rate bonds will be divided into two types: five-year bonds with a coupon adjustment option, a call option and a put option at the end of three years; and seven-year bonds with a coupon adjustment option, a call option and a put option at the end of five years.

The company said it will determine the coupon rates through a book-building process.

The company previously obtained approval for the public issuance of corporate bonds totaling up to RMB 8 billion. This will be the company’s first tranche for 2021.

Yuexiu is a property developer based in Hong Kong.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.