Beijing Capital lands $500m from new sub perp

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By Addison Gong
08 Nov 2019

Chinese government-owned Beijing Capital Group Co sold a $500m perpetual deal on Thursday, just a couple of weeks ahead of the scheduled call date of an old bond by its real estate arm.

The new bond was issued by Central Plaza Development, with a guarantee from International Financial Center Property, a wholly-owned subsidiary of Beijing Capital Land. Hong Kong-listed Beijing Capital Land, in turn, is the 54.5%-owned property arm of Beijing Capital Group, the keepwell provider of the latest deal.

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