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China Merchants Land closes 1.9B-yuan senior notes offering

Hong Kong real estate developer China Merchants Land Ltd. closed its 1.9 billion-yuan senior bond issuance.

The bonds bear interest at 4.6% per year and are due Dec. 18, 2021. China Merchants plans to use proceeds from the offering to refinance debt and for working capital purposes.

As of Dec. 18, US$1 was equivalent to 6.89 yuan.