By Marisa Wong
Morgantown, W.Va., Jan. 26 – Ronshine China Holdings Ltd. said wholly owned subsidiary Rongxin (Fujian) Investment Co. Ltd. issued RMB 3.1 billion of 7.89% bonds with an initial two-year term on Tuesday.
On Monday the company announced plans to offer RMB 2 billion of corporate bonds with an up to RMB 1.5 billion over-allotment option.
At the end of the second year, the maturity of the bonds may be extended by two years.
The coupon rate was expected to be 6½% to 7.9%. The exact rate was determined through a book-building process.
Ronshine is a property developer based in Fuzhou, China.
| Issuer: | Rongxin (Fujian) Investment Co. Ltd.
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| Issue: | Corporate bonds
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| Amount: | RMB 3.1 billion
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| Maturity: | Two years initially, with two-year extension option
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| Coupon: | 7.89%
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| Price talk: | 6½%-7.9%
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| Announcement date: | Jan. 25
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| Settlement date: | Jan. 26
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