Beijing Capital Land closer to issuing RMB 3 billion corporate bonds

By Marisa Wong

Madison, Wis., April 22 – Beijing Capital Land Ltd. said the China Securities Regulatory Commission approved its application to issue domestic corporate bonds on Wednesday.

The company proposed to issue up to RMB 3 billion of bonds in one or more tranches with maturities of no more than 10 years, as announced on Sept. 30, 2013.

Shareholders approved the proposed bonds at an extraordinary general meeting held on Oct. 23, 2013.

Proceeds will be used to repay loans and to supplement working capital, as noted before.

The Beijing integrated property owner said it will make a further announcement once it receives written approval of the bonds from the regulatory commission.

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