Genertec’s China Universal has approval for up to RMB 500 million one-year bonds

Chicago, Nov. 12 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Genertec Universal Medical Group Co. Ltd., has approval to issue up to RMB 500 million of bonds (Chengxin: AAA), according to a notice.

The bonds will have a one-year term. At the end of the year, the issuer can extend the term of the bonds.

There is also a deferred interest payment and redemption option.

The coupon will be determined through the bookbuilding exercise.

The rate will reset once in each term. The subsequent term will bear interest at the benchmark rate plus 300 basis points.

Proceeds will be used for supplementary operating funds.

The bonds will be issued off-line to qualified investors.

Tianfeng Securities Co., Ltd., Kaiyuan Securities Co., Ltd. and Sealand Securities Co., Ltd. are the joint lead arrangers.

The bonds will be issued on the Shanghai Stock Exchange.

The company has approval to issue up to a total of RMB 3.5 billion of bonds. This issuance will constitute a tranche of the total approval.

The health care company is based in Hong Kong.

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