By Sarah Lizee
Olympia, Wash., Sept. 19 – China’s Zhenro Properties Group Ltd. said subsidiary Zhenro Properties Holdings Co. Ltd. issued RMB 1.1 billion of 7.16% four-year corporate bonds on Thursday, according to an announcement.
The bonds are not guaranteed.
Zhongshan Securities Co., Ltd. is the lead underwriter.
The issuer may adjust the coupon at the end of the second year.
The issuer received approval to issue up to RMB 3.1 billion of the bonds, with Thursday’s issuance being the first tranche.
Proceeds will be used to repay debt.
The company is a real estate developer and property manager based in Shanghai.
| Issuer: | Zhenro Properties Holdings Co. Ltd.
|
| Issue: | Corporate bonds, first tranche
|
| Amount: | RMB 1.1 billion
|
| Maturity: | 2023
|
| Bookrunner: | Zhongshan Securities Co., Ltd.
|
| Coupon: | 7.16%, to be adjusted at end of second year
|
| Settlement date: | Sept. 19
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