By William Gullotti
Buffalo, N.Y., Nov. 1 – Shanghai Industrial Urban Development Group Ltd. announced its non-wholly owned subsidiary, Shanghai Urban Development (Holdings) Co., Ltd., issued RMB 1.15 billion of 3.07% three-year domestic corporate bonds (Chexin: AA+).
The bonds were issued in connection to the RMB 8 billion authorized to be issued by the China Securities Regulatory Commission on Oct. 19. The approval is valid for 24 months.
Proceeds will be used to repay the issuer’s 3.95% domestic corporate bonds that were issued in 2019.
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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Amount: | RMB 1.15 billion
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Issue: | Domestic corporate bonds
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Tenor: | Three years
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Underwriter: | Ping An Securities Co., Ltd.
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Coupon: | 3.07%
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Issue date: | Oct. 31
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Rating: | Chexin: AA+
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