By Marisa Wong
Los Angeles, Aug. 12 – Longfor Group Holdings Ltd. issued RMB 3 billion of five-year and seven-year corporate bonds on Tuesday and Wednesday through indirect subsidiary Chongqing Longhu Development Co. Ltd., according to a company announcement.
The RMB 2 billion of five-year bonds carry a coupon of 3.35%, and the RMB 1 billion of seven-year bonds carry a coupon of 3.7%.
The five-year bonds and seven-year bonds have coupon adjustment options at the end of the third and fifth years, respectively. The bonds will also be putable at those times.
This is the company’s third tranche of domestic corporate bonds for 2021.
Longfor is a Beijing investment holding company.
| Issuer: | Chongqing Longhu Development Co. Ltd.
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| Issue: | Domestic corporate bonds, 2021 third tranche
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| Amount: | RMB 3 billion
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| Issue dates: | Aug. 10 and Aug. 11
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| Five-year bonds
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| Amount: | RMB 2 billion
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| Maturity: | Five years
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| Coupon: | 3.35%, adjustable at the end of the third year
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| Put option: | At the end of the third year
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| Seven-year bonds
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| Amount: | RMB 1 billion
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| Maturity: | Seven years
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| Coupon: | 3.7%, adjustable at the end of the fifth year
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| Put option: | At the end of the fifth year
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