Shanghai Chengkai (Group) Co., Ltd. (Shanghai Chengkai), a non-wholly-owned subsidiary of Shanghai Chengkai (Group) Co., Ltd. (Shanghai Chengkai), a non-wholly-owned subsidiary established in China, has completed the issuance of the second tranche of domestic corporate bonds to eligible investors in China on September 7, 2023, with a total principal of 1.8 billion yuan and a maturity of 3 years, with a coupon of 3.5%, according to an announcement issued by Shanghai Real City Development (00563).
The proceeds from the issue of the second tranche of bonds in 2023 will be used to repay Shanghai Chengkai's second tranche of 2020 corporate bonds with a coupon of 4.07%. The issue of the second issue of the 2023 Notes not only significantly saved the Group's financial costs, but also demonstrated the confidence of the capital market in the Group and recognition of its growing overall strength and brand image.