By Susanna Moon
Chicago, March 1 – China Jinmao Holdings Group Ltd. said wholly owned subsidiary Franshion Brilliant Ltd. plans to issue up to RMB 1.25 billion of 5.2% senior notes (BBB-) due March 8, 2021.
The company entered into a purchase agreement with Standard Chartered Bank as the initial purchaser for the subscription and sale of the notes, according to a company notice.
Proceeds will be used to refinance debt and for general corporate purposes.
The notes will be guaranteed by China Jinmao.
China Jinmao is a Hong Kong-based investment holding company that invests in and develops real estate in mainland China.
| Issuer: | Franshion Brilliant Ltd.
|
| Guarantor: | China Jinmao Holdings Group Ltd.
|
| Issue: | Senior notes
|
| Amount: | RMB 1.25 billion
|
| Maturity: | March 8, 2021
|
| Bookrunner: | Standard Chartered Bank
|
| Coupon: | 5.2%
|
| Price: | Par
|
| Yield: | 5.2%
|
| Call option: | At any time
|
| Put option: | At 101% upon change of control and rating decline
|
| Pricing date: | March 1
|
| Settlement date: | March 8
|
| Rating: | S&P: BBB-
|
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