China's Weiqiao Textile plans up to RMB 9 billion bonds, MTNs, bills

By Marisa Wong

Madison, Wis., April 12 - Weiqiao Textile Co. Ltd. announced it plans to issue up to RMB 6 billion of domestic corporate bonds and up to RMB 3 billion of short-term financing bills and/or medium-term notes.

The corporate bonds will have a maturity of up to 10 years.

The short-term and medium-term securities will be offered to financial market institutional investors in China.

Proceeds will be issued to replenish the company's working capital and to finance other funding needs.

The proposed issuances are subject to shareholders approval at a general meeting on May 29.

The textile company is based in Shandong, China.

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