By Marisa Wong
Madison, Wis., Oct. 20 – GCL-Poly Energy Holdings Ltd. announced that its wholly owned subsidiary, GCL-Poly Ltd., issued RMB 400 million of 2014 second tranche notes on Monday.
The company priced the one-year notes at par with a coupon of 5.23%.
As reported, GCL-Poly received approval in May 2013 to issue RMB 1 billion of short-term notes within two years.
The subsidiary initially issued RMB 600 million of 5.8% notes on July 11, 2013. Those notes matured July 12, 2014.
The company issued its first tranche of notes for 2014 on June 25. The RMB 400 million of first tranche notes due June 26, 2015 priced at par to yield 6.05%.
Proceeds from the latest tranche will be used for general working capital.
GCL-Poly Energy is a green energy supplier based in Hong Kong.
| Issuer: | GCL-Poly Ltd.
|
| Issue: | 2014 second tranche notes
|
| Amount: | RMB 400 million
|
| Maturity: | Oct. 22, 2015
|
| Coupon: | 5.23%
|
| Price: | Par
|
| Yield: | 5.23%
|
| Settlement date: | Oct. 20
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
