NewSino-Ocean Land plans a 5 billion yuan corporate bond

Sino-Ocean Land Holdings plans to issue 5 billion yuan in corporate bonds, with the proceeds to help pay down existing debt and replenish general working capital, the company said in a filing to the stock exchange today. The Beijing headquartered, Hong Kong-listed company says it will issue the debt in two series. The first includes 2 billion yuan, which carry a coupon rate of 3.85 per cent, over a six year term. The second tranche of 3 billion yuan will bear a 4.76 per cent coupon rate over a 10 -year term.