By Rebecca Melvin
Concord, N.H., May 20 – Chongqing Longhu Development Co. Ltd., an indirect subsidiary of Longfor Group Holdings Ltd., priced RMB 500 million of 4% six-year bonds, according to an announcement on Friday.
The notes, which are not guaranteed, were talked at a 3% to 4% coupon. The rate was expected to have been set on May 17.
The securities have a coupon reset date at the end of the third year, at which time investors will have a put option.
The issue represents the company’s second tranche of domestic corporate bonds for 2022.
China Chengxin International Credit Rating Co., Ltd. assigned a rating of AAA to the notes.
Longfor is a Beijing investment holding company.
| Issuer: | Chongqing Longhu Development Co. Ltd.
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| Amount: | RMB 500 million
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| Issue: | Medium-term notes, 2022 second tranche
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| Maturity: | Six years
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| Coupon: | 4%
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| Coupon reset date: | At the option of the issuer at the end of the third year
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| Puts: | On coupon reset date
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| Pricing date: | May 17
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| Issue dates: | May 18 and May 19
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| Rating: | China Chengxin: AAA
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| Price talk: | 3% to 4%
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