China Evergrande Group to Issue Total US$3.8 Billion Worth of Bonds in 3 Tranches

By Chester YungFeaturesDow Jones Newswires

Real estate developer China Evergrande Group (3333.HK) said Thursday it plans to issue a total US$3.8 billion worth of bonds in three tranches and will use the net proceeds to refinance current debt as well as for general corporate purposes.

The Hong Kong-listed developer said it will issue US$500 million bonds due 2021 at 6.25%, US$1 billion bonds due 2023 at 7.50% and another US$2.3 billion bonds due 2025 at 8.75%.

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(END) Dow Jones Newswires

June 21, 2017 20:52 ET (00:52 GMT)