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Logan Property unit to issue 1B yuan of corporate bonds

China-based Shenzhen Logan Holdings Company Ltd., a unit of Logan Property Holdings Co. Ltd., will issue 1 billion yuan of domestic corporate bonds.

The bonds, due in 2025, carry an annual coupon rate of 4.8%, according to a Jan. 6 release.

Proceeds from the issuance will be used to repay the company's debt.

As of Jan. 6, US$1 was equivalent to 6.98 Chinese yuan.