By Marisa Wong
Morgantown, W.Va., May 31 – China Resources Land Ltd. announced it issued RMB 5 billion of medium-term notes on Monday.
The notes were issued in two categories. Category 1 notes, which have a term of three years and a coupon of 3.2%, totaled RMB 2 billion. Category 2 notes, which have a term of five years and a coupon of 3.6%, totaled RMB 3 billion.
This is the first issue under the company’s recently registered RMB 20 billion of medium-term notes.
Proceeds will be used for construction and development of the company’s projects and as additional liquidity.
China Resources Land is a property developer based in Hong Kong.
| Issuer: | China Resources Land Ltd.
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| Issue: | Medium-term notes, 2016 first issue
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| Amount: | RMB 5 billion
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| Settlement date: | May 30
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| Category 1 notes
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| Amount: | RMB 2 billion
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| Maturity: | Three years
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| Coupon: | 3.2%
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| Category 2 notes
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| Amount: | RMB 3 billion
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| Maturity: | Five years
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| Coupon: | 3.6%
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