By William Gullotti
Buffalo, N.Y., July 6 – Chongqing Longhu Development Co. Ltd., an indirect subsidiary of Longfor Group Holdings Ltd., priced RMB 1.7 billion of 4.1% six-year bonds, according to an announcement on Wednesday.
The notes, which are not guaranteed, were talked at a 3.4% to 4.4% coupon. The rate was expected to have been set on July 1.
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 third 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 1.7 billion
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| Issue: | Medium-term notes, 2022 third tranche
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| Term: | Six years
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| Coupon: | 4.1%
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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: | July 1
|
| Issue dates: | July 4 and July 5
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| Rating: | China Chengxin: AAA
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| Price talk: | 3.4% to 4.4%
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