By Marisa Wong
Morgantown, W.Va., Nov. 10 – Shanghai Industrial Urban Development Group Ltd. announced its non-wholly owned subsidiary, Shanghai Urban Development (Holdings) Co., Ltd., issued RMB 1.8 billion of domestic corporate bonds on Tuesday.
The seven-year bonds were priced with a coupon of 4.47%.
After five years, the issuer may increase the coupon and investors will be able to put the bonds.
Tianfeng Securities Co., Ltd. is the lead underwriter.
Proceeds will be used to repay bank loans and for general working capital.
Shanghai Industrial is based in Hong Kong and has businesses in infrastructure facilities, real estate and consumer products.
| Issuer: | Shanghai Urban Development (Holdings) Co., Ltd.
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| Issue: | Domestic corporate bonds
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| Amount: | RMB 1.8 billion
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| Maturity: | Seven years
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| Coupon: | 4.47%, may be increased after five years
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| Put option: | After five years
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| Underwriter: | Tianfeng Securities Co., Ltd.
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| Settlement date: | Nov. 10
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