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KWG Property unit to issue 6.50B yuan bonds

KWG Property HoldingLtd.'s Guangzhou Tianjian Real Estate Development Ltd. plans to issuenonpublic domestic corporate bonds with an aggregate principal amount of up to 6.50billion Chinese yuan.

The company said the proposed issuance was approved by the ShenzhenStock Exchange on April 5, and is subject to market conditions and investor interest.The tranche and coupon rate have not yet been determined.

The proceeds from the bonds issue will go toward general workingcapital purposes, according to an April 7 filing.

China Securities Co. Ltd. will serve as the issue's sole underwriter.

As of April 7, US$1 wasequivalent to 6.47 Chinese yuan.