China's Kunming Machine Tool plans RMB 580 million medium-term notes

By Marisa Wong

Madison, Wis., Nov. 9 - Shenji Group Kunming Machine Tool Co. Ltd. announced it plans to issue up to RMB 580 million of medium-term notes in China.

The notes will be issued in two tranches with maturities of no more than three years.

Proceeds will be used to supplement the company's working capital and to import and develop technology.

The notes are subject to shareholders' approval at an upcoming extraordinary general meeting.

The machine tool processor and distributor is based in Kunming, Yunnan, China.

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