By Marisa Wong
Morgantown, W.Va., Oct. 16 – China’s Yuzhou Properties Co. Ltd. sold RMB 2 billion of three-year corporate bonds at par to yield 6.7%, according to a company announcement.
The notes were issued on Thursday through indirect wholly owned subsidiary Xiamen Yuzhou Grand Future Real Estate Development Co. Ltd.
The bonds are putable after two years, at which time the coupon may be increased.
Dongxin Securities Co., Ltd. was the lead underwriter with China Merchants Securities Co., Ltd. and BOC International (China) Ltd. as joint underwriters.
Proceeds will be used for general working capital.
Yuzhou is a property developer based in Hong Kong.
| Issuer: | Xiamen Yuzhou Grand Future Real Estate Development Co. Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 2 billion
|
| Maturity: | Three years
|
| Coupon: | 6.7%, may be increased at end of second year
|
| Price: | Par of RMB 100
|
| Yield: | 6.7%
|
| Put option: | At end of second year
|
| Underwriters: | Dongxin Securities Co., Ltd. (lead); China Merchants Securities Co., Ltd. and BOC International (China) Ltd. (joint)
|
| Settlement date: | Oct. 15
|
| Rating: | Golden Credit Rating International Co., Ltd.: AA
|
|
|
|
|
© 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.
