By Marisa Wong
Morgantown, W.Va., Aug. 31 – Greentown China Holdings Ltd. said it issued RMB 3 billion of five-year bonds with a coupon of 4.7%.
At the end of the third year, the issuer may adjust the coupon rate and the bonds are putable.
Citic China Securities Co. Ltd. is the lead underwriter.
This is the company’s first tranche of domestic corporate bonds. The company previously applied to issue up to RMB 7 billion of domestic bonds.
The company intends to use proceeds to repay debt.
Greentown China is a Hangzhou, China-based property developer.
| Issuer: | Greentown China Holdings Ltd.
|
| Issue: | Domestic corporate bonds, first tranche
|
| Amount: | RMB 3 billion
|
| Maturity: | Five years
|
| Coupon: | 4.7%, adjustable at end of year three
|
| Put option: | At end of third year
|
| Underwriter: | Citic China Securities Co. Ltd.
|
| Settlement date: | Aug. 28
|
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