Yuexiu Property (00123) has announced that its subsidiary, Guangzhou Urban Construction Development Co., Ltd., has finalized terms for the third tranche of its 2026 corporate bond issuance to professional investors.
The total issuance size for this bond series is capped at RMB 2.0 billion (including the option to borrow up to that amount). The offering was initially structured in two tranches: Tranche 1 with a 3+2 year tenor, and Tranche 2 with a 5+2 year tenor.
On July 28, 2026, the issuer and lead underwriters conducted a book-building process to determine the coupon rates. The proposed interest rate range for Tranche 1 was set between 1.50% and 2.50%, while Tranche 2 was quoted in a range of 1.80% to 2.80%.
Based on the book-building results and after thorough discussion and prudent assessment between the issuer and underwriters, the company has decided to cancel the issuance of Tranche 1 entirely. The final coupon rate for Tranche 2 has been set at 1.99%.
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