trending Market Intelligence /marketintelligence/en/news-insights/trending/6fWJbfACNWB-Hcxv9JlOew2 content esgSubNav
In This List

China Vanke unit issues HK$1.38B bonds

Blog

Japan M&A By the Numbers: Q1 2022

Blog

Global M&A by the Numbers: Q2 2022

Blog

SEC Climate Disclosure Requirements Heating Up: How to Take Action

Blog

Infographic 2022 Top Tech Trends Shaping Corporations


China Vanke unit issues HK$1.38B bonds

Anindirectly owned subsidiary of China Vanke Co. Ltd. has issued bonds with an aggregateprincipal amount of around HK$1.38 billion and a 2.50% annual interest rate.

BestgainReal Estate Lyra Ltd. will issue the notes, which will mature April 13, 2019,unless earlier redeemed in accordance with the terms, according to an April 13filing.

Thenotes are part of a US$2.00 billion medium-term note program. Vanke Real Estate(Hong Kong) Co. Ltd., another China Vanke unit, served as the guarantor of thebonds. The unit issued the notes to professional investors in Hong Kong andoutside the U.S. to non-U.S. persons.

Further,Sun Hung Kai Properties said an application has been made to The Stock Exchangeof Hong Kong Ltd. for the listing of and permission to deal in the bonds,effective April 14.

Theproceeds from the issuance will be used for working capital, investment andother general corporate purposes.

ABCICapital Ltd. and Agricultural Bank of China Ltd. Hong Kong Branch served as thedealers of the bond issuance.