China-based KWG’s Guangzhou Hejing unit to offer RMB 3 billion bonds

By Marisa Wong

Morgantown, W.Va., Sept. 25 – KWG Property Holding Ltd.’s wholly owned subsidiary, Guangzhou Hejing Real Estate Development Ltd., is proposing to issue up to RMB 3 billion of domestic corporate bonds.

Guotai Junan Securities Co., Ltd. and Zhongshan Securities Co., Ltd. will act as underwriters, according to a company announcement.

The subsidiary had obtained approval from the Shenzhen Stock Exchange in October 2016 to issue the domestic corporate bonds but had not carried out the issuance due to market conditions.

Proceeds will be used to refinance existing debt.

KWG Property is a developer based in Guangzhou, China.

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