On February 15, Jinke Property Group Co.Ltd(000656) issued an announcement to launch the first phase of corporate bonds issued to professional investors in 2022, with an issuance scale of no more than 1.5 billion yuan (inclusive) and a term of 4 years (with the issuer’s option to adjust the coupon rate and the bondholder’s repurchase option at the end of the second year). The name of the bond is ” Jinke Property Group Co.Ltd(000656) 2022 corporate bonds issued to professional investors (phase I)”, The bond is abbreviated as “22 Jinke 01” and the bond code is “149803”. The funds raised by the bonds are intended to repay the principal and interest of “20 Jinke 01”.
According to the comprehensive evaluation of China credit rating, Jinke Property Group Co.Ltd(000656) long-term entity is rated AAA, and the current bond is rated AAA, with a stable rating outlook. By the end of September 2021, the net assets of the company were 78.481 billion yuan, the asset liability ratio of the consolidated financial statements was 80.10%, and the asset liability ratio of the parent company was 83.19%; The average annual distributable profit realized in the last three fiscal years (2018-2020) was 5.531 billion yuan.
According to the current issuance of the bond market, the expected coupon rate range of the current bond is 7.00% – 8.00%, and the average annual distributable profit realized in the last three fiscal years is expected to be no less than 1.5 times of the one-year interest of the current bond. After the issuance, the company will submit an application for the listing and trading of the bonds to Shenzhen Stock Exchange as soon as possible.
