New York, June 16 – Yuzhou Properties Co. Ltd. said that its Xiamen Yuzhou Grand Future Real Estate Development Co. Ltd. subsidiary sold RMB 2 billion of 6.28% corporate bonds with a three-year maturity at par.
The issuer may increase the interest rate at the end of the second year and holders have a put option at that time.
Donxing Securities Co., Ltd. was the underwriter for the private placement to qualified investors, according to an announcement from the company.
The bonds will be traded on the Shenzhen Stock Exchange.
Proceeds from the offering are to 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.
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Issue: | Corporate bonds
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Amount: | RMB 2 billion
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Maturity: | 2019
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Coupon: | 6.28%, subject to increase at end of year two
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Price: | Par of RMB 100
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Put: | At end of year two
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Ratings: | Golden Credit Rating International Co., Ltd.: AA
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Underwriter: | Donxing Securities Co., Ltd.
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Settlement date: | June 8
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Distribution: | Private placement in China
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