China’s Gemdale says to keep coupon on May 2021 bond unchanged

SHANGHAI, April 29 (Reuters) – Chinese developer Gemdale Corp said on Wednesday it would keep the coupon on a 1 billion yuan ($141.31 million) May 2021 bond unchanged at 5.29%.

In an official filing, the company said it was keeping the bond’s coupon unchanged after “careful consideration”, having earlier announced plans to alter the coupon to 1.50%. ($1 = 7.0768 Chinese yuan renminbi) (Reporting by Andrew Galbraith; Editing by Muralikumar Anantharaman)