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Country Garden to issue 1.85B yuan of bonds

Country Garden Holdings Co. Ltd. will issue 1.85 billion yuan of bonds to institutional investors.

The four-year bonds will carry a fixed interest rate of 6.8% per year. They will be issued Oct. 18.

The bonds will be traded on the Shanghai Stock Exchange.

As of Oct. 17, US$1 was equivalent to 7.08 Chinese yuan.