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Beijing Capital Land plans up to 2B yuan debt issuance

Diversified real estate developer Beijing Capital Land Ltd. is planning a nonpublic issue of debt financing of up to 2 billion yuan on the Beijing Financial Assets Exchange Co. Ltd.

An extraordinary general meeting will be convened to approve the proposed debt financing plan through special resolutions. The coupon rate and reset rate will be set after negotiations between the company and investors through nonpublic price consultation.

The proceeds will be used for primary land development and construction of units of the company.

As of May 31, US$1 was equivalent to 6.41 yuan.