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China’s GOME renews RMB 1.16 billion bonds at increased 7.6% coupon
By Wendy Van Sickle
Columbus, Ohio, May 1 – GOME Retail Holdings Ltd.’s GOME Appliance Co. Ltd. subsidiary has renewed most of its domestic bonds for three years at a higher interest rate and will redeem a portion of the bonds on May 10.
On April 26, about RMB 1.16 billion of the bonds, which were issued in 2016, were renewed at a coupon of 7.6%, up from 4.5%, according to a company notice.
On May 10, GOME Appliance will redeem RMB 544.4 million of the bonds.
The company said funds from the renewal will be used for strategic promotion.
GOME is an electrical appliance retailer based in Beijing.
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