China’s Longfor talks RMB 1 billion 15-year notes at 3.2%-4.2%

By Marisa Wong

Los Angeles, Dec. 3 – Longfor Group Holdings Ltd. said it is offering up to RMB 1 billion of 15-year notes.

Indirect subsidiary Chongqing Longhu Development Co. Ltd. will issue the notes on Dec. 7 and Dec. 8, according to a company announcement.

The coupon is talked at 3.2% to 4.2%. The final rate will be set on Wednesday based on a bookbuilding.

The coupon rate is adjustable at the end of the third year, sixth year, ninth year and 12th year.

Investors will have a put option on the coupon reset dates.

This will be the company’s first tranche of medium-term notes for 2021.

The notes are non-guaranteed.

Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. has assigned a rating of AAA to the notes.

Longfor is a Beijing investment holding company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.