By Jennifer Chiou
New York, May 13 - Sinopharm Group Co. Ltd. announced the issue of a RMB 2 billion first tranche of bonds at par to yield 4.89%.
The three-year bonds were priced at RMB 100 per unit, with a minimum subscription amount of RMB 5 million.
The issue received approval from the board of directors in November 2010. At the time, the company said it planned to price up to RMB 5 billion of medium-term bonds in one or more tranches.
The Beijing-based pharmaceutical company plans to use the proceeds to fund its operational activities, to increase liquidity and to repay bank loans.
| Issuer: | Sinopharm Group Co. Ltd.
|
| Issue: | Medium-term bonds
|
| Amount: | RMB 2 billion
|
| Maturity: | 2014
|
| Coupon: | 4.89%
|
| Price: | Par of RMB 100
|
| Yield: | 4.89%
|
| Settlement date: | May 13
|
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