Shanghai City Development Affiliated to Shanghai City Development Bank 1.8 billion yuan corporate bonds

新浪港股 ·  09/11/2023 08:17

Shanghai City Development (00563) announced that on September 7, 2023, Shanghai Chengkai (Group) Co., Ltd. (Shanghai Chengkai) Co., Ltd. (Shanghai Chengkai), a non-wholly-owned subsidiary of the company established in China, completed the issuance of the second issue of domestic corporate bonds to eligible investors in China. The total principal amount is RMB 1.8 billion, the term is 3 years, and the coupon interest rate is 3.5%.

Proceeds from the issuance of the 2023 second issue of bonds will be used to repay Shanghai Chengkai's 2020 second issue of domestic corporate bonds. The coupon interest rate is 4.07%. The issuance of the second issue of bonds in 2023 not only significantly saved the Group's financial costs, but also demonstrated the capital market's confidence in the Group and recognition of its continuously improving comprehensive strength and brand image.

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