By Marisa Wong
Madison, Wis., March 28 - Zhongpin Inc.'s subsidiary, Henan Zhongpin Food Share Co., Ltd., issued RMB 600 million of 5.15% one-year bonds on Tuesday, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The bonds were sold at par to institutional investors in China.
Of the proceeds, about RMB 400 million will be used as working capital, and the remaining roughly RMB 200 million will be used to repay some of the subsidiary's bank loans.
Zhongpin is a Changge City, China, food processing company.
| Issuer: | Henan Zhongpin Food Share Co., Ltd.
|
| Issue: | Bonds
|
| Amount: | RMB 600 million
|
| Maturity: | March 27, 2014
|
| Coupon: | 5.15%
|
| Price: | Par
|
| Yield: | 5.15%
|
| Settlement date: | March 26
|
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