By Marisa Wong
Los Angeles, June 7 – Poly Property Group Co., Ltd. wholly owned subsidiary Shanghai Poly Property issued RMB 1.5 billion of third tranche corporate bonds on June 6, according to a company announcement.
The third tranche consists of RMB 1 billion of 3.2% bonds with an initial term of three years and a two-year renewal option and RMB 500 million of 3.65% bonds with an initial term of five years and a two-year renewal option.
Proceeds will be used to repay interest-bearing debt.
The bonds will be listed on the Shanghai Stock Exchange.
As of June 7, all RMB 5 billion of corporate bonds previously approved by the China Securities Regulatory Commission have been issued by Shanghai Poly Property. The first two tranches were issued in February and April.
Poly Property is a residential and commercial property company based in Hong Kong.
| Issuer: | Shanghai Poly Property
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| Amount: | RMB 1.5 billion
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| Issue: | Corporate bonds, third tranche
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| Issue date: | June 6
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| Listing: | Shanghai
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| 3.2% bonds
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| Amount: | RMB 1 billion
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| Maturity: | Three years, with option to extend notes for two more years
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| Coupon: | 3.2%
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| 3.65% bonds
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| Amount: | RMB 500 million
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| Maturity: | Five years, with option to extend notes for two more years
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