BONDS: Heilongjiang He Cheng Launches Rmb1.2bn 7yr Amort Bond
Municipal-owned Heilongjiang He Cheng Construction Investment launched its debut enterprise bond issue - a Rmb1.2bn (US$171m) seven-year issue at 7.78%, equivalent to 555bp over the one-year Shibor rate. Repayments will be in three annual installments of 30%, 30% and 40% starting at the end of the fourth year. Average life is around 5.1 years.
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