'ssubsidiary priced its issuance of nonpublic domestic corporate bonds worth notmore than 6.50 billion Chinese yuan.
Followinga bookbuilding exercise, Guangzhou Tianjian Real Estate Development Ltd. andthe sole underwriter determined that the type 1 bonds worth 1.00 billion yuanwill have a fixed coupon rate of 5.60%, while the type 2 bonds worth 5.50billion yuan will have a fixed coupon rate of 5.80%.
Thetype 1 bonds will have a seven-year term, with the issuer having the option toadjust the coupon rate after the end of the fourth year from the date ofissuance and an option for investors to sell back the bonds.
Onthe other hand, the type 2 bonds also have a seven-year term with the issuer having theoption to adjust the coupon rate after the end of the fifth year from the dateof issuance and an option for investors to sell back the bonds.
ChinaSecurities Co. Ltd. will serve as the sole underwriter for the issuance, aspreviously reported.
As of April 26, US$1 wasequivalent to 6.50 Chinese yuan.