By Marisa Wong
Morgantown, W.Va., Aug. 29 – LVGEM (China) Real Estate Investment Co. Ltd. said it priced RMB 2.6 billion of 6½% five-year bonds on Monday.
The coupon will be adjustable and investors will have a put option at the end of the third year.
The bonds will be issued through wholly owned subsidiary Zhengxinglong Real Estate (Shenzhen) Co., Ltd., as initially announced in July.
Huatai United Securities Co., Ltd. is the lead underwriter, and Zhongshan Securities Co., Ltd. is the joint lead underwriter.
Proceeds will be used for general working capital purposes.
LVGEM is a property developer based in Hong Kong.
| Issuer: | Zhengxinglong Real Estate (Shenzhen) Co., Ltd.
|
| Issue: | Bonds
|
| Amount: | RMB 2.6 billion
|
| Maturity: | Five years
|
| Underwriters: | Huatai United Securities Co., Ltd. (lead), Zhongshan Securities Co., Ltd. (joint lead)
|
| Coupon: | 6½%, adjustable at end of third year
|
| Put option: | At end of third year
|
| Pricing date: | Aug. 29
|
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