Joy City Property Limited (HK:0207) has released an update.
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Joy City Property Limited has announced the approval for registration of up to RMB 1.5 billion in medium term notes by its subsidiary, COFCO Commercial Property Investment Co., Ltd., for issuance to qualified investors. The notes, with a 2-year validity for registration and an initial 3-year term, will be traded on the National Inter-bank Bond Market with terms including annual coupon payments and potential adjustments based on benchmark interest rates in the PRC. The non-guaranteed notes will be underwritten by China International Capital Corporation Limited and China Merchants Bank Co., Ltd., with further details to be disclosed upon issuance.
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