BJ Properties (00925) announced that the company, as the guarantor and issuer (BPHL Capital Management Limited, a wholly-owned subsidiary of the company), has signed a subscription agreement with joint lead managers for bond issuance on June 20, 2024 (after the trading session). The issuer will issue bonds with an initial principal amount of RMB 1.5 billion. Unless redeemed in accordance with the terms of the bond before maturity, the bond will mature on June 27, 2027, subject to completion of certain conditions. The bond will bear interest at an annual rate of 5.4%.
Beijing Ent (00925) announced that the company, as the guarantor and issuer (BPHL Capital Management Limited, a wholly-owned subsidiary of the company), has signed a subscription agreement with joint lead managers for bond issuance on June 20, 2024 (after the trading session). The issuer will issue bonds with an initial principal amount of RMB 1.5 billion. Unless redeemed in accordance with the terms of the bond before maturity, the bond will mature on June 27, 2027, subject to completion of certain conditions. The bond will bear interest at an annual rate of 5.4%.
The announcement stated that the Group intends to use the net proceeds received from the bond for the refinancing of existing Group borrowings, project investments and general corporate purposes.
Upon maturity, the bond should be paid in accordance with its principal and accrued interest. The bond will benefit from the support agreement for maintenance and working capital issued by Beijing Ent Group Co., Ltd.