China’s Sichuan Expressway eyes up to RMB 3 billion perpetual notes

By Wendy Van Sickle

Columbus, Ohio, March 27 – Sichuan Expressway Co. Ltd. is proposing to issue up to RMB 3 billion of perpetual medium-term notes to institutional investors in one or several tranches in the interbank bond market in China, according to a notice.

Proceeds will be used for corporate business activities, including financing projects and proposed investment projects, repayment of maturing debts, replenishing working capital, equity acquisition, capital injection to subsidiaries and other purposes.

The company’s board of directors approved the proposed issuance on March 27.

The issue is subject to shareholder approval at the annual general shareholder meeting to be held May 23.

The highway construction and management company is based in Chengdu, China.

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