By Marisa Wong
Madison, Wis., Aug. 21 - Huiyin Household Appliances (Holdings) Co., Ltd. announced that its wholly owned subsidiary, Yangzhou Huiyin Household Appliance Co., Ltd., issued RMB 390 million of 6.3% medium-term notes on Aug. 20.
The notes have a maturity of three years.
Of the RMB 390 million of proceeds, 74.36% will be used for enhancing Huiyin's sales network and 25.64% will be used to repay Yangzhou Huiyin's existing bank loans.
Bank of Communications Co., Ltd. led a syndicate of underwriters for the offering, as previously reported.
Huiyin is a Yangzhou, China-based retail chain operator and distributor of home appliances and consumer electronics.
| Issuer: | Yangzhou Huiyin Household Appliance Co., Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | RMB 390 million
|
| Maturity: | 2015
|
| Coupon: | 6.3%
|
| Underwriter: | Bank of Communications Co., Ltd. (lead)
|
| Settlement date: | Aug. 20
|
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