China’s Zoomlion plans to sell up to RMB 5 billion medium-term notes

By Mary-Katherine Stinson

Lexington, Ky., March 30 – Zoomlion Heavy Industry Science and Technology Co., Ltd. is proposing to issue up to RMB 5 billion of medium-term notes with terms of up to five years, according to a company announcement.

The notes will be issued for institutional investors in the interbank bond market in China.

Proceeds will be used to replenish working capital, to repay bank loans and for any other purpose approved by other trader associations.

The proposed securities are subject to shareholders’ approval. Approval, if granted, will last up to 36 months.

Zoomlion is a heavy machinery manufacturer based in Changsha, China.

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