Poly Developments issues notes, updates on convertible bonds

Poly Developments and Holdings Group Co., Ltd. announced the successful issuance of its 2025 fourth tranche of medium-term notes. The issuance comprised two tranches: MTN004A, a 3-year note with a coupon rate of 1.85% and an issuance amount of yuan 100 million, and MTN004B, a 5-year note with a coupon rate of 2.17% and an issuance amount of yuan 2.9 billion. The total registered amount for these notes is yuan 5 billion, with the registration valid for two years.

Additionally, the company issued its Second Interim Trustee Management Report for its 2025 convertible company bonds, "Poly Convertible" (code: 110817), with an issuance size of yuan 8.5 billion. The report detailed the convertible bonds' approval, maturity in 2031, and annual interest rates ranging from 2.20% to 2.45%. A key update in this report was the resolution of frozen special accounts associated with the convertible bond's raised funds.

The frozen accounts, totaling yuan 94,220.38, were linked to a civil lawsuit. Poly Developments confirmed that these accounts, which represented a negligible portion of the net proceeds and the company's total cash, have since been unfrozen. The company confirmed that the freezing incident did not adversely affect its fundraising activities or investment projects.