China's Zoomlion taps two banks for planned RMB 9 billion MTNs

By Marisa Wong

Madison, Wis., March 28 - Zoomlion Heavy Industry Science and Technology Co., Ltd. plans to issue up to RMB 9 billion of medium-term notes in China.

The notes will have a maturity of up to five years and will be issued in one or more tranches.

Bank of China Ltd. and Export-Import Bank of China will act as the lead underwriters.

Proceeds will be used to replenish working capital, repay bank loans and invest in projects.

The notes are subject to shareholders' approval at an upcoming general meeting. If granted, the approval would be valid for 36 months.

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

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