China’s Yuzhou Properties decreases coupon on 2021 bonds to 6.98%

By Marisa Wong

Los Angeles, Sept. 3 – Yuzhou Properties Co. Ltd. said it exercised the coupon adjustment option under its RMB 1 billion three-year bonds issued in August 2018.

The coupon was lowered to 6.98% from 7.85%, according to a company announcement.

The company said it took into account current market conditions and its financial condition in adjusting the coupon.

The new coupon rate is effective from Aug. 29, 2019 to Aug. 28, 2021.

The bonds were putable at par from Aug. 19 to Aug. 21. However, holders did not put any of the bonds, the company said.

The property developer is based in Hong Kong.

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