By Marisa Wong
Morgantown, W.Va., May 11 – GOME Electrical Appliances Holding Ltd. announced that wholly owned subsidiary Gome Appliance Co. Ltd. issued an additional RMB 2 billion of six-year bonds.
The company had issued an initial RMB 3 billion of 4% six-year domestic corporate bonds in January, as previously reported.
The latest bonds were issued with coupons ranging from 4% to 4˝%. The coupon rate is adjustable at the end of the third year.
The bonds are also putable at the end of the third year.
Dongxing Securities Co. Ltd. is the lead underwriter, as previously announced.
Proceeds will be used for general working capital, including expansion of the subsidiary’s store network and e-commerce business, development of its logistic and after-sales service platforms, optimization of its internal management system and upgrade of its ERP system.
The electrical appliance retailer is based in Beijing.
| Issuer: | Gome Appliance Co. Ltd.
|
| Issue: | Domestic corporate bonds
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| Amount: | RMB 2 billion
|
| Maturity: | Six years
|
| Underwriter: | Dongxing Securities Co. Ltd.
|
| Coupon: | 4%-4˝% initially; adjustable after three years
|
| Put option: | At end of three years
|
| Announcement date: | May 11
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