HONG KONG (Reuters) – Chinese major developer Country Garden said on Wednesday it plans to issue 5 billion yuan ($724.27 million) worth of state-guaranteed notes this year, with the first batch of 1.5 billion to 1.6 billion yuan in September.
Company CFO Wu Jianbin made the comment at an earnings conference.
Chinese regulators have instructed China Bond Insurance to provide guarantees for onshore bond issuance by a few private property developers, Reuters reported earlier this month.
($1 = 6.9035 Chinese yuan renminbi)
(Reporting by Clare Jim; Editing by Louise Heavens)
