Hong Kong’s Yuexiu Property subsidiary plans RMB 8 billion bonds

By Marisa Wong

Morgantown, W.Va., May 9 – Yuexiu Property Co. Ltd. said its 95% owned subsidiary, Guangzhou City Construction & Development Co. Ltd., is proposing to issue up to RMB 8 billion of guaranteed interest-bearing corporate bonds.

Guangzhou Securities Co., Ltd. and Jiuzhou Securities Co., Ltd. will be the joint lead underwriters.

The company said the issuance will diversify its portfolio of financial instruments, effectively reduce financing costs and optimize its debt structure.

The proposed bonds are still subject to regulatory approval.

Yuexiu is a property developer based in Hong Kong.

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