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
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