Shanghai Powerlong Industrial Development (Group) Co.,Ltd. will extend the maturity date of its 2019 Medium Term Note (Series 2) (ISIN: CND10002GZS1).
This MTN was issued on 25/06/2019. Original maturity date is 26/06/2022. Issue amount is CNY 500 mn. Reference data and bond details can be retrieved in Bond Search page by local code of 101900860.
This MTN has terms of extension of maturity date. The original tenor is 3-year. Before the maturity date, issuer can decide whether to extend the maturity date by 1 year. This time, issuer has decided to extend the maturity date from 26/06/2022 to 26/06/2023.
As issuer will extend the maturity date, coupon rate will be reset on 26/06/2022. New coupon rate for following 3 years will be 5-day average value of 3-year (remaining tenure) government bond yields plus 7.68%.
Shanghai Powerlong is a real estate developer. Its parent company is Powerlong Real Estate (Hong Kong) Holdings Limited, which is a listed company in Hong Kong Stock Exchange.