By Marisa Wong
Morgantown, W.Va., April 4 – China Resources Land Ltd. issued RMB 4 billion of medium-term notes on Wednesday, according to a company announcement.
The company sold RMB 500 million of three-year notes with a coupon of 4.98% and RMB 3.5 billion of five-year notes with a coupon of 5.23%.
The company had set a base issue size of RMB 2 billion for each category of notes but said the amounts could be re-allocated between the two categories.
Pricing was determined through a book-building process.
Citic Securities Co., Ltd. and Agricultural Bank of China Ltd. are the joint lead underwriters, as previously announced.
Proceeds from these 2018 second tranche 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.
| Issuer: | China Resources Land Ltd.
|
| Issue: | Medium-term notes, 2018 second tranche
|
| Amount: | RMB 4 billion
|
| Underwriters: | Citic Securities Co., Ltd. and Agricultural Bank of China Ltd.
|
| Settlement date: | April 4
|
|
|
| Category 1 notes
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| Amount: | RMB 500 million
|
| Maturity: | April 3, 2021
|
| Coupon: | 4.98%
|
|
|
| Category 2 notes
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| Amount: | RMB 3.5 billion
|
| Maturity: | April 3, 2023
|
| Coupon: | 5.23%
|
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