By Marisa Wong
Morgantown, W.Va., May 18 – Sino-Ocean Land Holdings Ltd. said indirect wholly owned subsidiary Sino-Ocean Land Ltd. priced RMB 4 billion of 3½% five-year corporate bonds on Wednesday.
At the end of year three, the coupon may be increased and the bonds may be put.
Proceeds will be used to repay existing debt and to replenish general working capital.
Sino-Ocean Land is a Beijing-based property developer.
| Issuer: | Sino-Ocean Land Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 4 billion
|
| Maturity: | Five years
|
| Coupon: | 3½%, may be adjusted at end of year three
|
| Put option: | At end of year three
|
| Pricing date: | May 18
|
| Settlement date: | May 19
|
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