By William Gullotti
Buffalo, N.Y., April 7 – China’s Yuyao Economic Development Zone Construction Investment and Development Co., Ltd. has priced $100 million of 3.9% guaranteed bonds due 2025 (Baa3//BBB-), according to a listing notice on Thursday.
The bonds will be guaranteed by parent company Yuyao Shuncai Investment Holding. Co., Ltd.
According to Fitch Ratings, proceeds will be used to refinance offshore bonds.
Listing for the notes is expected on the Singapore Exchange effective April 8.
The real estate company is involved in the repurchase of construction projects, land development and real estate sales in China.
| Issuer: | Yuyao Economic Development Zone Construction Investment and Development Co. Ltd.
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| Guarantor: | Yuyao Shuncai Investment Holding Co. Ltd.
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| Issue: | Guaranteed bonds
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| Amount: | $100 million
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| Maturity: | April 7, 2025
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| Coupon: | 3.9%
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| Issue date: | April 7
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| Listing date: | April 8
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| Ratings: | Moody’s: Baa3
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| Fitch: BBB-
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| ISIN: | XS2452204568
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