By Marisa Wong
Morgantown, W.Va., Nov. 17 – GCL-Poly Energy Holdings Ltd. announced that its wholly owned subsidiary, GCL-Poly (Suzhou) New Energy Co., Ltd., issued RMB 650 million of one-year bonds on Thursday.
The bonds were priced at par with a coupon of 3.99%.
The company previously registered to issue a total of RMB 1.3 billion of short-term notes. An initial tranche, RMB 650 million of one-year bonds, was issued in July 2015.
Proceeds from the current tranche will be used as general working capital and to repay bank loans.
GCL-Poly Energy is a green energy supplier based in Hong Kong.
| Issuer: | GCL-Poly (Suzhou) New Energy Co., Ltd.
|
| Issue: | Short-term notes
|
| Amount: | RMB 650 million
|
| Maturity: | Nov. 17, 2017
|
| Coupon: | 3.99%
|
| Price: | Par
|
| Yield: | 3.99%
|
| Settlement date: | Nov. 17
|
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