Summary by Futu AI
On July 12, 2024, Yuexiu Property announced that its subsidiary, Guangzhou City Construction and Development Co., Ltd., successfully completed the first public issuance of corporate bonds for professional investors, raising no more than 1.5 billion yuan. This issue of bonds is divided into two types: a 5-year term and a 10-year term. The 5-year term has an issue size of 0.5 billion yuan, a coupon rate of 2.25%, and a subscription multiple of 6.36 times; the 10-year term has an issue size of 1 billion yuan, a coupon rate of 2.75%, and a subscription multiple of 1.29 times. The company stated that during the issuance process, directors, supervisors, senior management, shareholders with a stake of more than 5%, and other related parties did not participate in the subscription, and ensured that significant undisclosed matters were not disclosed. Citic Securities Co., Ltd. and its affiliates, the underwriting institutions, subscribed a total of 0.15 billion yuan, in compliance with relevant laws and regulations.