2016.01.22
Times Property Issues 2016 Non-public Corporate Bonds of RMB Three Billion (Phase 1)
Guangzhou Times Property Group Co., Ltd. has completed the issuance of its 2016 non-public corporate bonds (phase 1) totaling RMB three billion. It is the company's third issuance of corporate bonds in mainland China.
Times Property's latest bond is "2016 Non-publicly Issued Corporate Bonds of Guangzhou Times Property Group Co., Ltd. (Phase 1)" (abbreviated as "16 Times 01"), which has been accorded an "AA" grade. The par value of the corporate bonds issued is RMB three billion, and the nominal interest rate is 7.88%. The valid period is three years, and the issuer's right to redeem the bonds at the end of the second year is ensured. The date of issuance is January 18, 2016, and the lead underwriters are BOC International (China) Limited and Southwest Securities Co., Ltd.
The bonds issued by Times Property will be used to supplement the floating capital, which will in turn help optimize the debt structure and enhance the liquidity of capital.
