Country Garden Real Estate Group completed the issuance of 2 billion yuan of corporate bonds with a coupon rate of 4.38%.

SMM: September 24, country Garden Real Estate Group Co., Ltd. announced that its 2020 public offering of corporate bonds (the third issue) to qualified investors has been completed on the same day, the actual issuance size of 2 billion yuan, the final coupon of 4.38%.

It is understood that the bond is a five-year period, with the option of the issuer to adjust the coupon rate at the end of the third year and the investor's option to sell back. The starting date is September 24, and the interest payment date is September 24 every year from 2021 to 2025.

After deducting the issuance expenses, the funds raised in the current issue are intended to be used to repay the maturing bonds of country Garden Holdings, the controlling shareholder of the issuer.

According to previous reports, news from the Shanghai Stock Exchange on September 18 showed that the special asset support plan for Bihua in 2020, which was applied by country Garden Real Estate Group Co., Ltd., was approved with a proposed issue amount of 2 billion yuan, and the type of bond was ABS, underwriter / manager for West China Securities Co., Ltd. Compared with the previous information disclosed on August 24, the amount of the issue of country Garden has been reduced by 1 billion yuan to 2 billion yuan from the original 3 billion yuan.