China Vanke will issue up to 5.9 billion yuan of 5-year corporate bonds.
The country's biggest domestically listed property developer says the bonds will comprise 3 billion yuan in collateralized notes, with a rate to be set between 5.5 and 6 percent and up to 2.9 billion yuan in non-collateralized notes, with a rate between 7 and 7.5 percent.
The bonds are set to be issued from Friday this week to Tuesday next week. Proceeds will be used to improve the structure of debt and boost working capital.
(CCTV September 3, 2008)