By Marisa Wong
Madison, Wis., June 25 – GCL-Poly Energy Holdings Ltd. announced that its wholly owned subsidiary, GCL-Poly Ltd., issued RMB 400 million of one-year notes at par to yield 6.05% on Wednesday.
GCL-Poly received approval in May 2013 to issue RMB 1 billion of short-term notes within two years. The subsidiary issued its first tranche, RMB 600 million of 5.8% notes due 2014, in July 2013. This is the company’s second tranche.
Proceeds will be used to repay existing borrowings.
GCL-Poly Energy is a green energy supplier based in Hong Kong.
| Issuer: | GCL-Poly Ltd.
|
| Issue: | Second tranche notes
|
| Amount: | RMB 400 million
|
| Maturity: | June 26, 2015
|
| Coupon: | 6.05%
|
| Price: | Par
|
| Yield: | 6.05%
|
| Settlement date: | June 25
|
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