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China Resources Land to offer RMB 5 billion three-, five-year notes
By Marisa Wong
Morgantown, W.Va., July 19 – China Resources Land Ltd. plans to issue up to RMB 5 billion of medium-term notes in China’s interbank market on July 21, according to a company announcement.
Pricing will be determined through a book-building process.
Citic Securities Co., Ltd. and Agricultural Bank of China Ltd. are the joint lead underwriters.
The notes will be issued in two categories. Category 1 notes will have a term of three years and a base issue size of RMB 3.5 billion, and category 2 notes will have a term of five years and a base issue size of RMB 1.5 billion. The amounts may be re-allocated between the two categories.
Proceeds from these 2017 first issue notes will be used for development of the company’s projects and as additional liquidity.
China Resources Land is a property developer based in Hong Kong.
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