China's Huiyin gets OK to issue RMB 390 million of three-year notes

By Susanna Moon

Chicago, July 20 - Huiyin Household App. (Hold.) Co., Ltd. said it plans to issue RMB 390 million of three-year medium-term notes to institutional investors in the inter-bank debenture market in China, after having received the needed approvals.

Huiyin may issue the notes within the next two years in one or more tranches, and the first tranche will be completed within two months from the date of registration, according to a company notice.

Bank of Communications Co., Ltd. will lead a syndicate of underwriters.

Proceeds will be used to expand the sales network and repay part of the bank loans.

The issue received notice of acceptance for registration Friday from the National Association of Financial Market Institutional Investors.

Huiyin is an investment holding company based in Yangzhou, China.

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