E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 10/29/2015 in the Prospect News Emerging Markets Daily.

China’s Future Land Development talks RMB 2 billion bonds at 3.5%-5%

By Angela McDaniels

Tacoma, Wash., Oct. 29 – Future Land Development Holdings Ltd. set an indicative coupon range of 3.5% to 5% for its upcoming RMB 2 billion of five-year domestic corporate bonds, according to a company announcement.

As previously reported, the bonds will be issued through wholly owned subsidiary Future Land Holdings Co., Ltd.

There is an over-allotment option for RMB 1 billion.

Citic Securities Co., Ltd. is the lead underwriter, and Morgan Stanley Huaxin Securities Co., Ltd. and China Securities Co., Ltd. are the joint lead underwriters.

The bonds will be putable at the end of the third year, at which time the issuer may choose to adjust the coupon.

Proceeds will be used to adjust the company’s debt structure and to replenish cash.

The China Securities Regulatory Commission approved the company’s application for the proposed bonds on Wednesday.

Future Land is a Hong Kong-based real estate operator and developer.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.