By Marisa Wong
Morgantown, W.Va., Aug. 3 – China-based Legend Holdings Corp. said its subsidiary, Raycom Real Estate Development Co., Ltd., issued RMB 3 billion of 5.06% five-year bonds on Tuesday.
The coupon rate is adjustable and the bonds are putable at the end of the second and fourth years.
The company previously announced plans to issue up to RMB 7.5 billion of bonds this year.
Proceeds will be used to repay debt and replenish working capital.
Legend, which owns 93.09% of equity interests in Raycom, is a Beijing-based investment holding company.
| Issuer: | Raycom Real Estate Development Co., Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 3 billion
|
| Maturity: | Five years
|
| Coupon: | 5.06%, may be adjusted at end of second and fourth years
|
| Put option: | At end of second and fourth years
|
| Settlement date: | Aug. 2
|
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