Beijing Properties (Holdings) Limited (00925) said it will issue bonds in an initial aggregate principal amount of US$600 million, which will mature on 27 February 2023.
The issue price is 100% of the principal amount of the bonds. The bonds will bear interest at a rate of 5.95% per annum, payable semi-annually in arrear on 27 February and 27 August in each year, commencing on 27 August 2020.
The group intends to use the net proceeds received from the bonds for refinancing of its existing borrowings.