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Beijing Capital Land Limited : BCL Announces Issuance of CNY 2 Billion Guaranteed Bonds

11/22/2012 | 09:07pm US/Eastern

(23 November 2012 - Hong Kong) Beijing Capital Land Ltd. ("BCL" or the "Company", together with its subsidiaries, collectively the "Group"; stock code: 2868), one of the leading integrated property developers in China, is pleased to announce the issuance of CNY 2billion 7.60% guaranteed bonds due 2015 by the Central Plaza Development, a wholly owned subsidiary of the Company. The estimated net proceeds will be used for working capital and general corporate purposes.

International rating agencies Fitch and Moody's assigned BB + and Ba3 rating to the issuance of the bonds respectively. HSBC is the sole global coordinator and sole bookrunner for the proposed bonds issue. HSBC and Goldman Sachs are the joint lead managers for the proposed bonds issue.

Listed on the Hong Kong Stock Exchange in 2003, BCL is one of the first domestic property developers listed overseas. With years of steady growth and sound operating performance, the Company has gained an excellent corporate credit in the Hong Kong capital market. In February 2011, the Company issued a 3-year RMB guaranteed bonds totaling RMB1.15 billion and became the first onshore non-financial institution that utilized the guarantor structure to issue RMB guaranteed bonds in Hong Kong. The successful issuance of the offshore CNY bonds will further broaden the overseas financing channels and optimize the financial structure of the Company, providing important support for the steady development and sustained growth in the future. Looking forward, the Company will strive to optimize its balance sheets effectively through diversified channels of the overseas financing platform, including debt financing, equity financingandfundfinancing , in order to maximize the returns for its shareholders.

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