Shanghai Electric subsidiary plans up to €600 million offshore bonds

By Marisa Wong

Madison, Wis., March 17 – Shanghai Electric Group Co. Ltd. announced that its wholly owned subsidiary, Shanghai Electric Newage Co. Ltd., plans to issue up to €600 million of offshore bonds with a term of five years.

The bonds will be guaranteed by Shanghai Electric Group.

The actual currency and amount of the issuance have yet to be set.

The bonds still subject to approval at the company’s general meeting.

The power generation and equipment manufacturing company is based in Shanghai.

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