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Beijing Capital Land board proposes issuance of up to 10B yuan bonds

The board of Beijing Capital Land Ltd. is proposing issuing up to 10 billion yuan of domestic corporate bonds in one or more tranches in China, subject to shareholders' approval in an extraordinary general meeting.

The bonds will have a nominal value of 100 yuan, maturity of up to seven years and will be traded on the Shanghai Stock Exchange.

Proceeds from the issue are intended to be used for the settlement of the principal and interest of the corporate debts of the company.

As of Dec. 19, US$1 was equivalent to 6.89 yuan.