By William Gullotti
Buffalo, N.Y., Feb. 16 – China Jinmao Holdings Group Ltd.’s Shanghai Jinmao Investment Management Group Co., Ltd. has issued RMB 1.8 billion of 3.2% domestic corporate bonds with a five-year tenor, according to a notice on Wednesday.
The issuer is a wholly owned subsidiary of the company.
The coupon rate is adjustable at the option of the company, and bondholders will be able to exercise a put option at the end of the third year.
Proceeds from the offering are intended to be used for debt repayment.
China Jinmao is a Hong Kong-based investment holding company focused on real estate development in mainland China.
| Issuer: | Shanghai Jinmao Investment Management Group Co., Ltd.
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| Amount: | RMB 1.8 billion
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| Issue: | Domestic corporate bonds
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| Tenor: | Five years
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| Coupon: | 3.2%, subject to change
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| Put: | After three years
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| Issue date: | Feb. 16
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