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Hopson Development to issue 15B yuan of bonds in China

said March 30 that it plans to issue up to 15.00 billion Chinese yuan of domesticcorporate bonds in China.

The companyintends to issue the bonds in tranches to qualified Chinese investors. The noteswill be listed on the Shanghai Stock Exchange.

Marketconditions and investor interest will be factors in determining the aggregate principalamount and the coupon ratefor the bonds, according to Hopson Development.

The companyintends to use the proceeds from the domestic bonds to repay loans from financialinstitutions and for general working capital purposes.

CITICSecurities Co. Ltd. will act as the lead underwriter, lead book runner and custodianof the proposed issuance.

As of March 30, US$1 was equivalentto 6.47 Chinese yuan.