Published on 9/15/2017 in the Prospect News Emerging Markets Daily.
New Issue: China’s Poly Culture sells RMB 300 million 4.84% one-year bonds
By Marisa Wong
Morgantown, W.Va., Sept. 15 – Poly Culture Group Corp. Ltd. issued RMB 300 million of 4.84% one-year bonds on Friday, according to a company announcement.
Bank of Beijing Co., Ltd. is the lead underwriter and bookrunner, and China Citic Bank Corp. Ltd. is the joint lead underwriter.
Proceeds will be used as additional working capital.
Beijing-based Poly organizes large-scale art and cultural activities and performances.
| Issuer: | Poly Culture Group Corp. Ltd.
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| Issue: | Short-term debentures, 2017 first tranche
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| Amount: | RMB 300 million
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| Maturity: | Sept. 15, 2018
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| Underwriters: | Bank of Beijing Co., Ltd. (lead), China Citic Bank Corp. Ltd. (joint lead)
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| Coupon: | 4.84%
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| Settlement date: | Sept. 15
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