By William Gullotti
Buffalo, N.Y., March 14 – China’s CIFI Holdings (Group) Co. Ltd., through its wholly owned subsidiary CIFI Group Co., Ltd., issued RMB 1 billion of 4¾% medium-term notes with a four-year tenor, according to a company announcement Monday.
The issuer will be able to adjust the interest rate beginning March 11, 2024, which is also the same date that investors will be able to exercise a put option.
The notes will be listed on the Stock Exchange of Hong Kong Ltd.
CIFI is a Shanghai-based real estate developer that builds properties in first- and second-tier cities in China.
| Issuer: | CIFI Group Co., Ltd.
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| Amount: | RMB 1 billion
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| Issue: | Medium-term notes, first tranche
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| Term: | Four years
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| Coupon: | 4¾%; may be adjusted beginning March 11, 2024
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| Pricing date: | Feb. 24
|
| Issue date: | March 11
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| Settlement date: | March 14
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