China's Beijing Capital Land board approves issue of RMB bonds

By Jennifer Chiou

New York, Nov. 19 - Beijing Capital Land Ltd. announced that its board has authorized an issue of renminbi-denominated guaranteed bonds to be issued through subsidiary Central Plaza Development Ltd.

The Beijing-based integrated property owner said that HSBC Ltd. is the global coordinator and bookrunner.

HSBC and Goldman Sachs (Asia) LLC are the joint lead managers.

Proceeds are earmarked for an escrow account and for working capital and general corporate purposes.

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