China’s Shandong Chenming Paper plans up to RMB 5.6 billion bonds

By Marisa Wong

Madison, Wis., Dec. 1 – Shandong Chenming Paper Holdings Ltd. said it plans to issue up to RMB 5.6 billion of bonds.

The bonds will have a maturity of over one year.

Proceeds will be used to repay loans, to replenish working capital and for project investments.

The company may issue the bonds in one or more tranches.

The bonds are still subject to shareholders’ approval at a general meeting scheduled for Dec. 16.

The Shandong, China-based paper manufacturer said the approval, if granted, would be valid for 36 months.

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