China’s Sino Haijing plans to price HK$300 million three-year notes

By Susanna Moon

Chicago, July 24 – Sino Haijing Holdings Ltd. said it plans to price up to HK$300 million of three-year notes at par.

Astrum Capital Management Ltd. is the placing agent.

The placement will last for six months beginning on the day after the agreement signed on July 24, according to a company notice.

The notes will be secured by an equitable mortgage over all the share capital of Great Prospect Enterprises Ltd., a wholly owned subsidiary of the company.

Proceeds will be used for developing potential new business and for the working capital.

The group said it focuses on the production and sale of expanded polystyrene packaging products for household electrical appliances in China. The company’s directors have considered the possibility of diversifying the business by developing oil-related businesses.

Sino Haijing is an investment holding company based in Hong Kong.

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