China National Materials (Sinoma) announced its plan to issue nearly US$265.97 million worth of bonds on the mainland, making it the first Hong Kong-listed firm company to be approved to do so, the South China Morning Post reported. The firm plans to list its seven-year corporate bonds on the Shanghai Stock Exchange. The bonds, with an indicative coupon rate of 4.9-5.4%, will go on sale on July 29 and comprise a retail tranche of 10% of the issue and an institutional tranche of 90%. Sinoma’s state-owned parent, China National Materials Group, is the guarantor for the issue and Pengyuan Credit Rating has given the bonds an AA-plus rating.
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