China’s KWG Property subsidiary plans RMB 2.2 billion corporate bonds

By Marisa Wong

Morgantown, W.Va., March 7 – KWG Property Holding Ltd. plans to issue up to RMB 2.2 billion of domestic corporate bonds through wholly owned subsidiary Guangzhou Tianjian Real Estate Development Ltd.

The China Securities Regulatory Commission approved the company’s application for the proposed bonds on March 2, according to a company announcement.

China Securities Co., Ltd. will act as underwriter for the issue.

Proceeds will be used for general working capital purposes.

China Chengxin Securities Ratings Co., Ltd. has assigned a rating of AAA to the bonds.

KWG Property is a developer based in Guangzhou, China.

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