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Yuexiu Property unit to issue up to 7B yuan of bonds in public offering

A Yuexiu Property Co. Ltd. unit plans to issue up to 7.00 billion Chinese yuan of guaranteed interest-bearing bonds in a public offering.

The company said in a filing that the proposed issuance will diversify the group's portfolio of financial instruments, effectively replenish the group's liquid capital, and have a positive impact on its operations as a whole.

Guangzhou Securities Co. Ltd. will be the lead underwriter for the proposed issuance.

As of Dec. 14, US$1 was equivalent to about 6.61 Chinese yuan.