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Franshion Properties Successfully Issues 5-Year Senior Bonds of USD 300 Million

Date:2013-10-25 Source:Sinochem Group

On October 10, Franshion Properties (China) Limited in Beijing, Sinochem member company listed in Hong Kong, released an announcement that it successfully released 5-year USD bonds (Ba1/BB/BBB-) at the coupon rate of 5.375%. The fund raised  would mainly be used for the refinancing of current debts and supplementary of working capital.

The subscription orders of this issuance were worth of about USD2.1 billion, 7 times of the planned amount. The successful completion of the bond financing work provided powerful fund backup for company development.