By William Gullotti
Buffalo, N.Y., Aug. 18 – LVGEM (China) Real Estate Investment Co. Ltd. issued RMB 1.6 billion five-year domestic bonds in two tranches, according to a listing notice Wednesday.
The first tranche, consisting of RMB 1.4 billion, has an 8½% coupon.
The second, consisting of RMB 200 million, has an 8.8% coupon.
The public offering on the Shenzhen Stock Exchange took effect Aug. 17.
According to the notice, proceeds will be used for repayment of corporate bonds due or sold back.
LVGEM is a property developer based in Hong Kong.
| Issuer: | LVGEM (China) Real Estate Investment Co. Ltd.
|
| Issue: | Domestic bonds
|
| Amount: | RMB 1.6 billion
|
| Maturity: | 2026
|
| Pricing date: | Aug. 12
|
| Issue date: | Aug. 17
|
|
|
| Type 1 bonds
|
| Amount: | RMB 1.4 billion
|
| Coupon: | 8½%
|
| Price: | Par of RMB 100
|
|
|
| Type 2 bonds
|
| Amount: | RMB 200 million
|
| Coupon: | 8.8%
|
| Price: | Par of RMB 100
|
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