Poly Developments gets CSRC nod for RMB150 bn bond issuance

Poly Developments and Holdings Group Co., Ltd. announced today that it has received approval from the China Securities Regulatory Commission (CSRC) for the registration of its application to publicly issue corporate bonds to professional investors. The CSRC’s approval permits the company to issue corporate bonds with a total face value not exceeding RMB150 billion.

The approval is valid for 24 months from the registration date, allowing the company to issue the bonds in tranches within this period. Poly Developments is required to strictly adhere to the prospectus submitted to the Shanghai Stock Exchange for this issuance. The company must also promptly report any significant events that occur from the registration date until the completion of the bond issuance.

Poly Developments commits to handling all aspects of the bond issuance in compliance with relevant laws, regulations, the CSRC's approval, and the authorization granted by its shareholders. The company also pledges to fulfill its information disclosure obligations in a timely manner.