By Marisa Wong
Morgantown, W.Va., July 6 – Legend Holdings Corp. said it will issue RMB 1.5 billion of 3.3% five-year bonds and RMB 2 billion of 4.6% 10-year bonds.
The coupons and issue sizes were set following a book-building process on Tuesday. The indicative coupon rate had ranged from 2.9% to 3.9% for the five-year bonds and 3.8% to 4.8% for the 10-year bonds.
China Galaxy Securities Co. Ltd. and China International Capital Corp. Ltd. are the lead underwriters.
In June the company announced plans to issue up to RMB 10 billion of corporate bonds. Earlier in the week the company said it would issue an initial tranche with a base issue size of RMB 2 billion and an over-allotment amount of up to RMB 1.5 billion.
On Monday the company announced that the first-tranche bonds would be issued at par with maturities of five and 10 years. Each maturity had a base issue size of RMB 1 billion with an up to RMB 750 million over-allotment option. Re-allocations could be made between the two types of bonds.
The bonds will be issued from July 6 to July 8.
Proceeds would be used to repay interest-bearing borrowings, as previously noted.
Legend is a Beijing-based investment holding company.
| Issuer: | Legend Holdings Corp.
|
| Issue: | Corporate bonds, 2016 first tranche
|
| Amount: | RMB 3.5 billion
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| Underwriters: | China Galaxy Securities Co. Ltd. and China International Capital Corp. Ltd.
|
| Pricing date: | July 5
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| Settlement date: | July 6-July 8
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|
|
| Five-year bonds
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| Amount: | RMB 1.5 billion
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| Maturity: | Five years
|
| Coupon: | 3.3%
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| Price: | Par
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| Yield: | 3.3%
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| Price talk: | 2.9%-3.9%
|
|
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| 10-year bonds
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| Amount: | RMB 2 billion
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| Maturity: | 10 years
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| Coupon: | 4.6%
|
| Price: | Par
|
| Yield: | 4.6%
|
| Price talk: | 3.8%-4.8%
|
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