By Marisa Wong
Morgantown, W.Va., March 23 – CIFI Holdings (Group) Co. Ltd. announced it issued on Thursday RMB 3.5 billion of domestic corporate bonds through wholly owned subsidiary CIFI Group Co., Ltd.
The issuance consists of RMB 800 million of four-year bonds with a coupon of 6½% and RMB 2.7 billion of five-year bonds with a coupon of 6.8%.
The bonds have a coupon adjustment option and put option at the end of the second year for the four-year bonds and at the end of the third year for the five-year bonds.
Proceeds will be used to repay loans.
CIFI is a property development and investment company based in Shanghai.
| Issuer: | CIFI Group Co., Ltd.
|
| Issue: | Domestic corporate bonds
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| Amount: | RMB 3.5 billion
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| Settlement date: | March 22
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|
|
| Four-year bonds
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| Amount: | RMB 800 million
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| Maturity: | Four years
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| Coupon: | 6½%, may be adjusted at the end of the second year
|
| Put option: | At the end of the second year
|
|
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| Five-year bonds
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| Amount: | RMB 2.7 billion
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| Maturity: | Five years
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| Coupon: | 6.8%, may be adjusted at the end of the third year
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| Put option: | At the end of the third year
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