Chinese property company issues convertible bonds

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    PRC property investment company, Mingfa Group, has raised US$200 million from its issuance of convertible bonds. The bonds have a five-year maturity date…

    PRC property investment company, Mingfa Group, has raised US$200 million from its issuance of convertible bonds. The bonds have a five-year maturity date and will bear interest at a rate of 5.25% per year payable semi-annually in arrears.

    The issuer has a number of development properties in Xiamen, Nanjing and other cities in China. The joint lead managers in the transaction were HSBC and Morgan Stanley.

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