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China Resources Land Ltd announces issuance of senior notes


Thursday, 27 Feb 2014 06:24am EST 

China Resources Land Ltd:Issued $400 mln senior notes bearing an interest rate of 4.375 pct. per annum payable semi-annually in arrear due 2019 at an issue price of 99.773 pct.And $700 mln senior notes bearing an interest rate of 6.0 pct. per annum payable semi-annually in arrear due 2024 at an issue price of 100.0 pct. on Feb. 20.The notes were issued following a book-building exercise conducted by The Hongkong and Shanghai Banking Corporation Limited as the sole global coordinator.ABCI Capital Limited, DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, Merrill Lynch International, UBS AG, Hong Kong Branch acted as joint bookrunners and joint lead managers.Says it will use the net proceeds from the issuance of the 2019 Notes and the 2024 Notes for general corporate purposes, including the financing of existing and new projects and working capital.