Beijing News (Reporter Xu Qian) On December 11, CCCC Real Estate Co., Ltd. (hereinafter referred to as "CCCC Real Estate") issued an announcement on the proposed issuance of medium-term notes.
It is reported that CCCC Real Estate held the 31st meeting of the 9th board of directors on December 11, 2023, and deliberated and approved the "Proposal on the Proposed Issuance of Medium-term Notes". In order to meet the demand for funds and optimize the debt structure, CCCC Real Estate intends to apply to the National Association of Financial Market Institutional Investors of China for registration and issuance of medium-term notes. The issuance scale of the medium-term notes shall not exceed 6 billion yuan (inclusive), and the financing period shall not exceed 5 years (including 5 years), and the specific issuance period will be determined according to the market conditions at the time of issuance.
CCCC Real Estate said in the announcement that according to the actual situation of the company, the funds raised by the medium-term notes are intended to be used for project construction, repayment of due corporate debts, asset mergers and acquisitions, replenishment of liquidity and compliance with regulatory requirementsThe issuance interest rate is determined according to the market conditions of the interbank bond market at the time of issuance of each tranche.
According to the announcement, the medium-term notes are guaranteed by CCCC Real Estate Group to provide full unconditional and irrevocable joint and several liability guarantees, and CCCC Real Estate can decide whether to increase the guarantee when the medium-term notes are issued according to the bond market conditions and the company's actual financing plan.
On the same day, the above-mentioned meeting also deliberated and passed the "Proposal on the Proposed Issuance of Non-public Directional Debt Financing Instruments". According to the announcement, CCCC Real Estate intends to issue non-public directional debt financing instruments with a scale of no more than 4 billion yuan (inclusive), with a financing period of 3+2 years, with the issuer's option to adjust the coupon rate at the end of the third year and the investor's option to sell back. All the funds raised will be used for the construction of the project, and the interest rate of the issuance will be determined according to the market conditions of the interbank bond market at the time of issuance. At the same time, the issuance of non-public directional debt financing instruments still needs to be submitted to the general meeting of shareholders of the company for deliberation, and approved by the National Association of Financial Market Institutional Investors of China, and the final plan of the issuance is subject to the registration notice of the National Association of Financial Market Institutional Investors of China.
Edited by Wu Xin.
Proofread by Liu Baoqing.