Beijing North Star eyes RMB 4 billion perpetual medium-term notes

By Marisa Wong

Morgantown, W.Va., May 15 – Beijing North Star Co. Ltd. is considering issuing up to RMB 4 billion of perpetual medium-term notes in one or more tranches, according to a notice.

Proceeds will be used to adjust the company’s debt structure, replenish working capital, repay interest-bearing debt, finance project investment and construction and replenish project funds.

The proposed issuance is subject to shareholders’ approval at an upcoming meeting.

The real estate conglomerate is based in Beijing.

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