By Wendy Van Sickle
Columbus, Ohio, June 18 – China Universal Leasing Co. Ltd. issued RMB 600 million of 4¼% five-year corporate bonds at par, according to an announcement from parent company Genertec Universal Medical Group Co. Ltd.
This first tranche of corporate bonds for 2019 will have a term of five years, with a call option, a put option and a coupon reset at the end of the third year.
The company announced on June 14 that it would issue up to RMB 1.28 billion of corporate bonds.
Citic Securities Co., Ltd. is the lead underwriter.
Proceeds will be used to repay maturing debt and for working capital.
Genertec Universal is a health care provider based in Beijing. Its subsidiary offers leasing services for medical equipment and transportation.
| Issuer: | China Universal Leasing Co. Ltd.
|
| Issue: | Corporate bonds
|
| Amount: | RMB 600 million
|
| Maturity: | Five years
|
| Underwriter: | Citic Securities Co., Ltd
|
| Coupon: | 4¼%, with reset after three years
|
| Price: | Par
|
| Yield: | 4¼%
|
| Call option: | After three years
|
| Put option: | After three years
|
| Settlement date: | June 18
|
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