China’s Longfor talks RMB 500 million six-year bonds at 3%-4%

By Marisa Wong

Los Angeles, May 16 – Longfor Group Holdings Ltd. said it is offering up to RMB 500 million of six-year bonds.

Indirect subsidiary Chongqing Longhu Development Co. Ltd. will issue the bonds on May 18 and May 19, according to a company announcement.

The coupon is talked at 3% to 4%. The final rate will be set on May 17 based on a bookbuilding.

The coupon rate will be adjustable at the end of the third year. Investors will have a put option on the coupon reset date.

This will be the company’s second tranche of domestic corporate bonds for 2022.

The bonds are non-guaranteed.

China Chengxin International Credit Rating Co., Ltd. has assigned a rating of AAA to the bonds.

Longfor is a Beijing investment holding company.

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