By William Gullotti
Buffalo, N.Y., April 14 – China’s Poly Property Group Co., Ltd. said its wholly owned subsidiary, Shanghai Poly Property, sold RMB 3.5 billion of domestic corporate bonds in three parts to qualified investors, according to an announcement on Thursday.
The first tranche of corporate bonds, issued Feb. 16, is comprised of a series of RMB 1.5 billion 2.99% bonds with a three-year tenor and a series of RMB 500 million 3.66% bonds with a five-year year tenor. Both tranches may be extended for another two years.
Both series of the first tranche have already been listed on the Shanghai Exchange.
The second tranche of corporate bonds, issued April 13, is a single series of RMB 1.5 billion 3.35% bonds with an initial three-year tenor that may be extended for two more years.
The second tranche will also be listed Shanghai Exchange.
Shanghai Poly may issue further tranches of the bonds, totaling up to RMB 1.5 billion, within the next two years.
Poly Property is a residential and commercial property company based in Hong Kong.
| Issuer: | Shanghai Poly Property
|
| Amount: | RMB 3.5 billion
|
| Issue: | Domestic corporate bonds
|
| Announcement date: | April 14
|
|
|
| 2.99% bonds
|
| Amount: | RMB 1.5 billion
|
| Issue: | First tranche corporate bonds
|
| Tenor: | Three years, with option to extend notes for two more years
|
| Coupon: | 2.99%
|
| Issue date: | Feb. 16
|
|
|
| 3.66% bonds
|
| Amount: | RMB 500 million
|
| Issue: | First tranche corporate bonds
|
| Tenor: | Five years, with option to extend notes for two more years
|
| Coupon: | 3.66%
|
| Issue date: | Feb. 16
|
|
|
| 3.35% bonds
|
| Amount: | RMB 1.5 billion
|
| Issue: | Second tranche corporate bonds
|
| Tenor: | Three years, with option to extend notes for two more years
|
| Coupon: | 3.35%
|
| Issue date: | April 13
|
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