By Angela McDaniels
Tacoma, Wash., Sept. 24 – Yida China Holdings Ltd. subsidiary Dalian Yida Development Co. Ltd. priced RMB 1 billion of 6% five-year domestic corporate bonds, according to a company announcement.
The issuer will be entitled to adjust the coupon rate and the bondholders will be entitled to put back the bonds to the issuer at the end of the third year.
Citic Securities Co. Ltd. is the lead underwriter.
The bonds will be issued from Friday to Monday.
On Sept. 21, the company said the issuer would issue up to RMB 3 billion of bonds in multiple tranches.
Proceeds will be used to repay debt and as general working funds.
Yida is a Dalian, China-based operator of business parks.
| Issuer: | Dalian Yida Development Co. Ltd.
|
| Issue: | Domestic corporate bonds
|
| Amount: | RMB 1 billion
|
| Term: | Five years
|
| Coupon: | 6%, subject to adjustment at the end of year three
|
| Put option: | At the end of year three
|
| Lead underwriter: | Citic Securities Co. Ltd.
|
| Pricing date: | Sept. 24
|
| Settlement dates: | Sept. 25 through Sept. 28
|
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