Longfor unit to offer up to RMB 1.5 billion three-year notes

By William Gullotti

Buffalo, N.Y., Aug. 23 – Chongqing Longhu Development Co. Ltd., an indirect subsidiary of Longfor Group Holdings Ltd., will offer up to RMB 1.5 billion of three-year medium-term notes, according to an announcement on Tuesday.

The notes, guaranteed by China Bond Insurance Co., Ltd., are being talked at a 3% to 4.3% coupon. The rate will be determined Aug. 25 based on bookbuilding.

The issue represents the company’s first tranche of medium-term notes for 2022.

Including its previous three issues of corporate bonds, the offering will mark the fourth issuance by the company and subsidiary in 2022.

China Chengxin International Credit Rating Co., Ltd. assigned a rating of AAA to the notes.

Longfor is a Beijing investment holding company.

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