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China Vanke sets coupon rate for up to 1.5B yuan of corporate leasing bonds

China Vanke Co. Ltd. set the coupon rate on its offering of up to 1.50 billion yuan worth of corporate leasing bonds at 4.05%.

The five-year bonds will be issued in denominations of 100 yuan, according to a filing.

The Chinese developer initially established a coupon range of between 3.70% and 5.00% for the bonds, before deciding on the final rate together with the offering's lead underwriter.

The bonds are part of a program that comprises the offering of corporate leasing bonds not exceeding 8.00 billion yuan.

As of Aug. 7, US$1 was equivalent to 6.83 yuan.