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China Vanke issues 1B yuan of ultra short-term bonds

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China Vanke issues 1B yuan of ultra short-term bonds

China Vanke Co. Ltd. issued 1.00 billion yuan worth of ultra short-term bonds maturing April 18, 2019.

The bonds, which were issued Oct. 12 in denominations of 100 yuan, carry a coupon rate of 3.13%, according to a filing.

Shenzhen-headquartered China Merchants Bank was the lead underwriter for the issuance.

The Chinese developer earlier received approval from the country's National Association of Financial Market Institutional Investors for the shelf registration of 10.00 billion yuan and 8.00 billion yuan worth of ultra short-term bonds, respectively.

As of Oct. 12, US$1 was equivalent to 6.92 yuan.