Anhui Conch plans to issue medium-term notes up to RMB 10 billion

By Mary-Katherine Stinson

Lexington, Ky., June 16 – Anhui Conch Cement Co. Ltd. announced board approval of a planned issuance of medium-term notes not to exceed RMB 10 billion and said it will seek shareholder approval at an extraordinary general meeting, according to a notice Thursday.

The notes would have a maturity of five years or less.

The notes would be sold to qualified institutional investors in the China interbank bond market.

The company stated the issuance of the notes would enable the company to meet operational and development needs, broaden financing channels, reduce financing costs and optimize its debt structure.

The proceeds raised would mainly be used for working capital, repayment of interest-bearing loans and project investment.

Anhui Conch Cement is an Anhui Province, China-based company principally engaged in production and sale of cement, commodity clinker and aggregate.

© 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.