China's Pacific Andes Resources plans three-year renminbi bonds

By Marisa Wong

Madison, Wis., May 25 - Pacific Andes International Holdings Ltd. announced that its subsidiary Pacific Andes Resources Development Ltd. plans to issue three-year renminbi-denominated bonds.

The issue will be arranged by DBS Bank Ltd. The Hongkong and Shanghai Banking Corp. Ltd. and Standard Chartered Bank (Hong Kong) Ltd. will be the joint lead managers and joint bookrunners.

The total principal amount, offer price and interest rate of the bonds will be determined through a bookbuilding exercise.

Proceeds will be used for general corporate purposes, to fund capital expenditures, for acquisitions and investments and to refinance a portion of existing debt.

Pacific Andes Resources is a Hong Kong-based seafood company.

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