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Guangzhou R&F subsidiary issues 1B yuan of short-term bonds

A unit of Guangzhou R&F Properties Co. Ltd. issued March 7 a first tranche of 1.00 billion yuan worth of short-term bonds.

The bonds will expire in 270 days from the issue date.

The bonds, which were issued in denominations of 100 yuan, will carry a coupon rate of 5.5%. The coupon rate is equivalent to the one-year Shanghai Interbank Offered Rate from March 7 plus 0.7687%, according to a filing.

As of March 12, US$1 was equivalent to 6.33 yuan.