China’s Legend to sell up to RMB 2 billion five-year fixed-rate bonds

By Marisa Wong

Morgantown, W.Va., Jan. 29 – Legend Holdings Corp. said it will offer up to RMB 2 billion of corporate bonds from Jan. 31 to Feb. 2.

The base issue size will be RMB 1 billion, but the offering will include an up to RMB 1 billion over-allotment option.

The five-year bonds will be priced at par with a fixed coupon. The coupon rate will be determined through an offline bookbuilding.

China Galaxy Securities Co. Ltd. is the lead underwriter.

This will be the company’s first tranche of bonds for 2018.

Proceeds will be used to repay interest-bearing debt.

United Ratings Co., Ltd. has assigned a rating of AAA to the bonds.

Legend is a Beijing-based investment holding company.

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