(14 Oct 2016 - Hong Kong) China Aoyuan Property Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883), a renowned property developer in China, is pleased to announce that a wholly-owned subsidiary (the “Issuer”) of the Company has successfully issued RMB1.5 billion non-public domestic corporate bonds with a term of three years and a coupon rate of 5.88% per annum. The proceeds from the non-public corporate bonds issue are expected to be used for repayment of its existing debts and for replenishment of its general working capital. 

 

Aoyuan management commented, “The credit rating outlook of Aoyuan has been upgraded to ‘Positive’ by the three major international rating agencies recently, namely Moody’s, S&P and Fitch, demonstrating recognition of Aoyuan’s operational efficiency and financial performance by capital markets and general public. Through the non-public domestic corporate bond issue, Aoyuan will not only lower its borrowing cost but also optimize its debt structure. Looking forward, we will adhere to prudent financial management and diversify financing channels in onshore and offshore capital markets, while facilitating the sustainable business development, thus delivering fruitful returns to our shareholders and investors.”