Aoyuan Issues 4-year RMB500 million 7.9% Non-public
Domestic Corporate Bonds
Date:2016-02-05
(5 Feb 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 a RMB500 million non-public domestic corporate bonds with a term of four years and a coupon rate of 7.9% per annum. The issuer shall be entitled to increase the coupon rate and the investors shall be entitled to sell back the bonds at the end of the second year. The proceeds from the non-public corporate bonds issue are expected to be used for refinancing the Company’s existing indebtedness and replenishing its general working capital.
Aoyuan management commented, “Through the non-public domestic corporate bond issue, Aoyuan will further lower its borrowing costs and optimize its debt structure. Going ahead, Aoyuan will continue to uphold prudent financial management and to further diversify its onshore and offshore financing channels while pursuing the sustainable business development, thus creating fruitful returns to our shareholders.”
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