By Marisa Wong
Morgantown, W.Va., July 28 – KWG Property Holding Ltd. said it issued RMB 1.3 billion of 4.95% five-year bonds on Thursday.
At the end of the third year, the company will have an option to adjust the coupon rate, and investors will have a put option.
In May, the company announced plans to issue up to RMB 13 billion of domestic corporate bonds and named Goldman Sachs Gao Hua Securities Co. Ltd., China Securities Co., Ltd. and China Merchants Securities Co., Ltd. to act as joint underwriters for the issue.
Proceeds from this second tranche will be used for general working capital purposes.
The company issued the first tranche, totaling RMB 2 billion, last week.
KWG Property is a developer based in Guangzhou, China.
| Issuer: | KWG Property Holding Ltd.
|
| Issue: | Domestic corporate bonds, second tranche
|
| Amount: | RMB 1.3 billion
|
| Maturity: | Five years
|
| Underwriters: | Goldman Sachs Gao Hua Securities Co. Ltd., China Securities Co., Ltd., China Merchants Securities Co., Ltd.
|
| Coupon: | 4.95%, may be adjusted at end of third year
|
| Put option: | At end of third year
|
| Settlement date: | July 28
|
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