By Marisa Wong
Morgantown, W.Va., July 10 – Legend Holdings Corp. said it issued RMB 2.5 billion of 5.05% five-year corporate bonds on July 7.
The deal had a base issue size of RMB 1 billion and an over-allotment option of up to RMB 1.5 billion.
The bonds were sold at par.
The coupon was talked at 4½% to 5½%. The final rate was determined through an offline bookbuilding.
China Galaxy Securities Co. Ltd. is the lead underwriter.
In April, the company announced plans to issue up to RMB 28 billion of debt financing instruments with maturities of no more than 15 years and perpetual bonds.
Proceeds from this first tranche will be used to repay interest-bearing debt.
United Ratings Co., Ltd. has assigned a rating of AAA to the first-tranche bonds, as previously noted.
Legend is a Beijing-based investment holding company.
| Issuer: | Legend Holdings Corp.
|
| Issue: | Corporate bonds, 2017 first tranche
|
| Amount: | RMB 2.5 billion
|
| Maturity: | Five years
|
| Underwriter: | China Galaxy Securities Co. Ltd.
|
| Coupon: | 5.05%
|
| Price: | Par
|
| Yield: | 5.05%
|
| Settlement date: | July 7
|
| Rating: | United Ratings Co., Ltd.: AAA
|
| Price talk: | 4½%-5½%
|
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