New York, Sept. 6 - Zhongfu Industry Co. Ltd. priced RMB 1.487 billion of eight-year bonds with a 7.3% coupon, according to a company announcement.
Proceeds will be used to repay short-term debt, extending the company's debt maturity profile and adding to its financial strength, Zhongfu said.
Of the total issued, RMB 12,568,000 was sold online to the public and RMB 1,487,432,000 to institutional investors. The online public offering was reduced from RMB 150 million due to a low response.
Zhongfu is the largest Chinese subsidiary of Vimetco NV, an Amsterdam-based producer of primary and processed aluminum products.
| Issuer: | Zhongfu Industry Co. Ltd.
|
| Issue: | Bonds
|
| Amount: | RMB 1,487,000,000
|
| Maturity: | Eight years
|
| Coupon: | 7.3%
|
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