CIFI issues US$255 million 5-year senior notes at a coupon rate of 6.55% The issue was well received by the capital market
- Written by Reporters
The coupon rate is one of the lowest among the real estate enterprises in China with the same credit level recently
HONG KONG, CHINA - Media OutReach - 22 March 2019 - CIFI Holdings (Group) Co. Ltd. ("CIFI" or the "Group", HKEx stock code: 884), a leading real estate developer engaged in the property development and investment business in the first-, second- and robust third-tier cities in China announced that the Group issues US$ 255 million senior notes at a coupon rate of 6.55% with a 5-year maturity. The coupon rate is one of the lowest among real estate enterprises in China with the same credit level recently.
The issue received over US$ 625 million subscription and was approximately 2.5 times over-subscribed, representing a keen market demand for the issue.
Standard Chartered Bank is the sole global coordinator, sole bookrunner and sole lead manager of the issue.
On 15 March 2019, Standard & Poor upgraded CIFI's rating from "BB-" to "BB". It is because CIFI has significantly improved its diversity and scale in the past two to three years. The "stable" outlook reflects S&P's expectation that CIFI will continue to expand its sales scale with controllable leverage.
About CIFI Holdings (Group) Co. Ltd.
Headquartered in Shanghai, CIFI is one of China's top real estate developers. CIFI principally focuses on developing high-quality properties in first-, second- and robust third-tier cities in China. CIFI develops various types of properties, including residential flats, office buildings and commercial complexes.
To learn more about the Company, please visit CIFI's website at: http://www.cifi.com.cn
Source http://www.media-outreach.com/release.php/View/8282#Contact