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Hangzhou Binjiang issues 2.18B yuan medium-term notes

Hangzhou Binjiang Real Estate Group Co. Ltd. issued March 15 three-year medium-term notes amounting to 2.18 billion yuan.

The notes, which were issued in denominations of 100 yuan, hold a 6.40% coupon rate and will mature March 15, 2021, according to a filing.

The Chinese real estate developer earlier received approval from the country's National Association of Financial Market Institutional Investors for the issuance of medium-term notes not exceeding 3.00 billion yuan.

Hangzhou Binjiang also announced March 16 its plans to issue up to a 6.50 billion yuan short-term unsecured debt facility in the form of commercial paper.

As of March 16, US$1 was equivalent to 6.33 yuan.