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China Vanke prices 2nd-tranche bond issuance from 9B-yuan program

China Vanke Co. Ltd. priced the second-tranche offering of 1.00 billion yuan of five-year bonds from its 9.00 billion-yuan issuance program at 100 yuan each.

The company, together with the issuance's book managers, decided on a coupon rate of 4.54% for the bonds.

The second-tranche offering comes on the back of the 3.00 billion-yuan first-tranche issuance of 4.5% five-year bonds, which was completed July 18.

Bonds from both tranches will be listed on the Shenzhen bourse.

As of Aug. 2, US$1 was equivalent to 6.72 Chinese yuan.