New York, Feb. 4 – China Aoyuan Property Group Ltd. said its Aoyuan Group Co. Ltd. subsidiary priced RMB 500 million of four-year bonds with a 7.9% coupon.
The domestic corporate bonds were priced via lead underwriter Southwest Securities Co. Ltd. and joint lead underwriter Zhongtai Securities Co. Ltd. in a non-public offering.
At the end of the second year the company can increase the coupon and investors will have a put option.
Proceeds will be used to repay debt and to replenish working capital.
China Aoyuan is real estate developer based in Guangzhou, China.
| Issuer: | Aoyuan Group Co. Ltd. (China Aoyuan Property Group Ltd.)
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| Issue: | Domestic corporate bonds
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| Amount: | RMB 500 million
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| Maturity: | 2020
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| Coupon: | 7.9% (option to increase at end of second year)
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| Put: | At end of year two
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| Pricing date: | Feb. 4
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| Underwriters: | Southwest Securities Co. Ltd. (lead), Zhongtai Securities Co. Ltd. (joint lead)
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