New York, Dec. 10 – Franshion Properties Investment Management (Shanghai) Co., Ltd. priced RMB 2.2 billion of 3.55% five-year bonds with a put after three years, according to a notice from parent company China Jinmao Holdings Group Ltd.
In addition to the put, the coupon will adjust after three years.
Pricing came near the tight end of talk that had been set at 3½% to 4.2%.
Citic Securities Co., Ltd. was lead underwriter.
Proceeds will be used to repay bank borrowings and to replenish working capital.
China Jinmao is a Hong Kong-based investment holding company that invests in and develops real estate in mainland China.
| Issuer: | Franshion Properties Management (Shanghai) Co., Ltd.
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| Issue: | Corporate bonds
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| Amount: | RMB 2.2 billion
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| Maturity: | Five years
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| Coupon: | 3.55%, resets after three years
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| Put: | In year three
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| Pricing date: | Dec. 10
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| Underwriters: | Citic Securities Co., Ltd. (lead), Goldman Sachs Gao Hua Securities Co. Ltd. (co-lead)
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