Yuzhou Properties to sell up to RMB 3.5 billion bonds Tuesday

By Marisa Wong

Morgantown, W.Va., March 29 – China’s Yuzhou Properties Co. Ltd. plans to issue its first tranche of bonds under its up to RMB 3.5 billion corporate bond program approved in February.

The company expects to issue the bonds on or around April 2 through subsidiary Xiamen Yuzhou Grand Future Real Estate Development Co. Ltd.

The first tranche bonds have an upsize option of up to RMB 3.5 billion. Pricing will be determined through a book-building exercise.

Proceeds will be used mainly to repay existing domestic corporate bonds with near maturities or that have been put.

Yuzhou is a property developer based in Shanghai.

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