By William Gullotti
Buffalo, N.Y., March 1 – Midea Real Estate Holding Ltd. said indirect wholly owned subsidiary Midea Real Estate Group Co. Ltd. sold RMB 1.5 billion of 4½% four-year medium-term notes (Chengxin: AAA), according to an announcement on Tuesday.
At the end of the second year, the issuer has the option to adjust the coupon and investors may exercise their option to put the notes.
Proceeds will be used for project construction.
Midea operates as a holding company based in Foshan, China, and provides property management, property sales, property development and other services.
| Issuer: | Midea Real Estate Group Co. Ltd.
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| Amount: | RMB 1.5 billion
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| Issue: | Medium-term notes, first tranche
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| Term: | Four years
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| Underwriter: | Shengang Securities Co., Ltd.
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| Coupon: | 4½%, with option to adjust at end of second year
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| Put option: | At end of second year
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| Announcement date: | March 1
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| Rating: | Chengxin: AAA
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