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KWG Property provides update on 3B yuan bond offering

KWG Property Holding Ltd. provided an update on the proposed issuance of up to 3 billion yuan of nonpublic domestic corporate bonds by its Guangzhou Hejing Real Estate Development Ltd. subsidiary.

Guangzhou Hejing will issue two types of bonds: 840 million yuan of 8.00% bonds with a five-year term and 2.16 billion yuan of 7.50% bonds with a three-year term.

As of Oct. 13, US$1 was equivalent to 6.59 Chinese yuan.