By William Gullotti
Buffalo, N.Y., Dec. 10 – Longfor Group Holdings Ltd. issued RMB 1 billion of 3.7% 15-year bonds (Shanghai Brilliance: AAA) on Tuesday and Wednesday through indirect subsidiary Chongqing Longhu Development Co. Ltd., according to a company announcement on Friday.
The coupon rate will be adjustable at the end of the third, sixth, ninth and 12th years. The bonds will also be putable at those times.
Listed on the Hong Kong Exchange, this is the company’s first tranche of medium-term notes for 2021.
Longfor is a Beijing investment holding company.
| Issuer: | Chongqing Longhu Development Co. Ltd.
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| Amount: | RMB 1 billion
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| Issue: | Medium-term notes, 2021 first tranche
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| Maturity: | 2036
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| Coupon: | 3.7%, adjustable at the option of the issuer in three-year intervals
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| Puts: | On coupon reset dates
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| Pricing date: | Dec. 3
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| Issue dates: | Dec. 7 and Dec. 8
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| Announcement date: | Dec. 10
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| Rating: | Shanghai Brilliance: AAA
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| Price talk: | 3.2% to 4.2%
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