Global Healthcare (02666) announced that China Global Leasing Co., Ltd. (issuer), a wholly-owned subsidiary of the company...
Zhitong Finance App News, Global Healthcare (02666) announced that China Global Leasing Co., Ltd. (issuer), a wholly-owned subsidiary of the company, has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue domestic renewable corporate bonds with a total principal amount of up to RMB 2 billion to qualified investors in China. The remaining amount as of the date of this announcement is RMB 2 billion. The bonds were issued in instalments, and the total principal amount issued this time was no more than RMB 500 million (including RMB 500 million).
The basic term of the current corporate bond is 3 years, with a period equal to the base period for 1 repricing cycle. At the end of the agreed base period and each repricing cycle, the issuer has the right to choose to extend the term of the current bond by 1 repricing cycle or pay the full amount of the current bond. The current corporate bond has the issuer's right to renew, the issuer's right to defer payment of interest, and the issuer's right to redeem. The issuance interest rate is fixed during the first cycle, and will be finally determined through bookkeeping and filing at the end of the subscription application. The coupon interest rate is the initial benchmark interest rate plus the initial spread, then reset once every cycle. The coupon interest rate for the subsequent cycle is adjusted to the current benchmark interest rate plus the initial spread plus 300 basis points. The net proceeds from the issuance of current corporate bonds will be used by the issuer as supplementary operating capital.