Yuexiu Property eyes up to RMB 9.85 billion guaranteed bonds

By William Gullotti

Buffalo, N.Y., Jan. 28 – Yuexiu Property Co. Ltd. said its 95% owned subsidiary, Guangzhou City Construction & Development Co. Ltd., is planning an offering of guaranteed corporate bonds totaling up to RMB 9.85 billion (Chengxin: AAA), according to an announcement on Friday.

The bonds will be guaranteed by the parent company and be listed on the Shanghai Stock Exchange.

Proceeds from the proposed issuance will be used for repayment of the principal and interest of the company’s other existing corporate bonds.

Yuexiu is a property developer based in Hong Kong.

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