By Marisa Wong
Morgantown, W.Va., Aug. 26 – Logan Property Holdings Co. Ltd. subsidiary Shenzhen Youkaisi Investment Co., Ltd. priced its second tranche of domestic bonds, totaling RMB 1 billion, with a coupon of 4.77%, according to a company announcement.
The four-year bonds are being offered from Thursday through Friday.
At the end of the second year, the coupon will be adjustable and the bonds will be putable.
The company previously announced it received approval to issue up to RMB 5 billion of domestic corporate bonds, with the first tranche to be completed within 12 months and the remaining tranches to be completed within 24 months.
The company sold RMB 4 billion of 5% five-year bonds in the first tranche earlier this month.
Proceeds from the second tranche will be used to repay debt and to replenish general working capital.
Logan Property is a Shenzhen-based real estate development company.
| Issuer: | Shenzhen Youkaisi Investment Co., Ltd.
|
| Issue: | Bonds
|
| Amount: | RMB 1 billion
|
| Maturity: | Four years
|
| Coupon: | 4.77%, adjustable after two years
|
| Put option: | At end of year two
|
| Offer period: | Aug. 27-Aug. 28
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