(ATF) Shenzhen Talent Housing Anju Group Co Ltd issued a special corporate bond project on Thursday May 14 for professional investors. Information disclosed by Shenzhen Stock Exchange was that the issue had been "accepted."
Proceeds from the bonds are intended to be used to replenish funds in Shenzhen Private Enterprise Development Fund and for future capital injection. They will also be used to alleviate the liquidity risk of private enterprises, with the remainder intended for use as supplementary working capital, for the repayment of interest-bearing debt, project construction and other compliance purposes.
The bond amount proposed is 10 billion yuan. The underwriters and managers include Guosen Securities Co Ltd, CITIC Securities Co Ltd and Construction Investment Securities Co Ltd.
According to the prospectus, the bonds will be issued in instalments. The scale of each issuance will depend on capital needs and market conditions. The term and variety of bonds shall not exceed five years (but includes up to 5 years), and clauses related to investors' resale rights and the issuer's option to adjust interest rates are possible.
The bonds may have a single maturity period or a mixed variety of maturities, it said.