Legend Holdings to Issue CNY2.3bn Corporate Bonds 

Legend Holdings to Issue CNY2.3bn Corporate Bonds

BEIJING, Nov 29, 2012 (Menafn - SinoCast Daily Business Beat via COMTEX) --Legend Holdings Ltd. announced on November 28 that it would issue ten-year unsecured and fixed-rate corporate bonds worth CNY 2.3 billion from November 30 to December 4, 2012.

By the end of the seventh year, the issuer will be granted the option to increase the coupon rate and investors will have the right to sell back the bonds. The bookkeeping date is November 29, 2012, with an interest rate of 5.20%-5.80% and a basic interest margin of 0.80%-1.40%.

The value date of the bonds is November 30, 2012, and the interests will be paid yearly. The maturity date is November 30, 2022. If investors exercise the right to sell back the bonds, the date for honoring the principal of the bonds sold back will be November 30, 2019. China Galaxy Securities will act as lead underwriter for this issuance.

Legend stated that it would invest CNY 2.15 billion of the fund to be raised from the issuance in an ethylene derivative project and use the remaining CNY 150 million to supply working capital.

Source: www.yicai.com (November 29, 2012)

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