CIFI Holdings(Group) Co. Ltd. said that its unit completed the issuance ofnonpublic bonds in China worth 4.00 billion Chinese yuan.
CIFI Group Co. Ltd. issued the notes as the second tranche ofan up to 6 billion-yuan bond program. The second-tranche notes comprised 3.50 billionyuan of bonds with a five-year term and a 4.30% annual coupon rate, and 500.0million yuan of bonds with a five-year term and a 5.50% annual coupon rate.
The proceeds from the issuance will be used to repay debtand replenish general working capital of the company and its subsidiaries.
As of Sept. 26, US$1was equivalent to 6.67 Chinese yuan.