By William Gullotti
Buffalo, N.Y., June 28 – China’s CIFI Holdings (Group) Co. Ltd., through its wholly owned subsidiary CIFI Group Co., Ltd., issued RMB 500 million of 5½% domestic corporate bonds with a four-year tenor, according to a company announcement on Tuesday.
The issuer will be able to adjust the interest rate after two years, which is also when investors will be able to exercise a put option.
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 500 million
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| Issue: | Domestic corporate bonds, first tranche
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| Term: | Four years
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| Coupon: | 5½%; may be adjusted after two years
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| Put option: | After two years
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| Issue date: | June 27
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