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Chinese builder issues bonds aimed at lusophone investors

Chinese urban redevelopment and infrastructure construction company Nanjing Southeast State-Owned Assets Investment Group Co. Ltd listed on Wednesday bonds worth 1 billion yuan (about US$144.7 million) in Macao, Lusa reports.

The Portuguese news agency says a written announcement issued by the operator of the exchange where the bonds are listed, Chongwa (Macao) Financial Asset Exchange Co. Ltd, quotes Nanjing Southeast State-Owned Assets Investment Group President Li Bin as saying his company is borrowing to set up a free trade zone in the eastern Chinese city of Nanjing.

Mr Lin said during the listing ceremony that the bonds may help develop the financial services market in Macao that supports business between China and the Portuguese-speaking world.

The coupon on the 10-year bonds is 4.6 percent, Lusa says.