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Future Land unit issues 3B yuan of bonds in China

said March 30 that its unit completed the second-trancheissuance of nonpublic bonds in China worth not more than 5 billion Chinese yuan.

FutureLand Holdings Co. Ltd.'s second-tranche bonds came out to 3 billion yuan,comprising corporate bonds category 1 worth 1.85 billion yuan with a couponrate of 5.44% and corporate bonds category 2 worth 1.15 billion yuan with acoupon rate of 4.76%.

Thetwo bond categories have a three-year term. Future Land Holdings issued thesecond-tranche bonds at a price of 100 yuan per bond.

Theunit plans to use the proceeds from the second-tranche issuance to replenishcash flow.

Thecompany also recently proposed the issuance of new shares to up to 5 billion yuan.

As of March 30, US$1 wasequivalent to 6.47 Chinese yuan.