By Marisa Wong
Morgantown, W.Va., July 26 – China Resources Land Ltd. announced it issued RMB 5 billion of medium-term notes on Tuesday.
The notes were issued in two categories. Category 1 notes, which have a term of three years and a coupon of 4.55%, totaled RMB 3.8 billion. Category 2 notes, which have a term of five years and a coupon of 4.7%, totaled RMB 1.2 billion.
This is the company’s first issue of medium-term notes for 2017. In May 2016, the company registered a RMB 20 billion MTN program and issued an initial RMB 5 billion of notes.
Proceeds from the latest notes 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, 2017 first issue
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| Amount: | RMB 5 billion
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| Settlement date: | July 25
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| Category 1 notes
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| Amount: | RMB 3.8 billion
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| Maturity: | Three years
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| Coupon: | 4.55%
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| Category 2 notes
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| Amount: | RMB 1.2 billion
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| Maturity: | Five years
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| Coupon: | 4.7%
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