Xinyuan completes the issue of second tranche of onshore corporate bonds in China
NYSE-listed real estate developer Xinyuan Real Estate Co Ltd and property manager primarily in China and recently in other countries announced the issue of the second tranche of the onshore corporate bonds by Xinyuan (China) Real Estate, Ltd., the Company’s wholly-owned subsidiary that targets the development of residential properties in China, has been completed with a coupon rate of 7.47%.
The issue size of the Second Tranche Bonds is RMB700 million (approximately US$107 million).
The Second Tranche Bonds have a term of five years. The Issuer shall be entitled to raise the coupon rate and the investors shall be entitled to sell back the Second Tranche Bonds at the end of the third year.