Chicago, Nov. 27 – Zhongyuan Asset Management Co., Ltd. sold $400 million 4.2% three-year notes (Baa3//BBB), according to a company notice.
The issue was five times oversubscribed from over 70 investors.
Initial price talk was for a coupon of 4.7%.
Proceeds will be used for general corporate purposes, including domestic business development.
The local asset management company is state owned and is established in Zhengzhou City in the Henan Province.
| Issuer: | Zhongyuan Asset Management Co., Ltd.
|
| Issue: | Senior unsecured notes
|
| Amount: | $400 million
|
| Maturity: | Three years
|
| Coupon: | 4.2%
|
| Pricing date: | Nov. 24
|
| Ratings: | Moody’s: Baa3
|
| Fitch: BBB
|
| Initial talk: | 4.7% coupon
|
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