Beijing North Star plans to issue RMB 1.5 billion 10-year bonds

New York, Jan. 18 - Beijing North Star Co. Ltd. said its directors have approved issuance of RMB 1.5 billion of 10-year bonds.

The securities will be sold at par and the coupon is expected to be 4.15% to 4.5%.

The Beijing branch of the Industrial and Commercial Bank of China will guarantee the debt.

China Securities Co., Ltd. will be underwriter.

Beijing North Star will use proceeds to fund the construction of the Beijing Olympic Park National Convention Center and related facilities.

Before selling the deal, Beijing North Star needs the approval of shareholders. A meeting is set for March 8.

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