By Marisa Wong
Madison, Wis., Oct. 29 - Weiqiao Textile Co. Ltd. announced it issued RMB 3 billion of domestic corporate bonds on Oct. 25.
The five-year bonds were issued through a public offering and a private placement. The company sold RMB 14,096,000 to the public and placed the remaining RMB 2,985,904,00.
The company said this is the first tranche of its planned issuance of up to RMB 6 billion of corporate bonds in China.
The China Securities Regulatory Commission approved the RMB 6 billion of corporate bonds on July 26.
As noted before, proceeds will be used to repay bank loans, to replenish working capital and for other purposes.
The cotton textile company is based in Shandong, China.
| Issuer: | Weiqiao Textile Co. Ltd.
|
| Issue: | Domestic corporate bonds
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| Amount: | RMB 3 billion
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| Maturity: | Five years
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| Settlement date: | Oct. 25
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