Hengtou eyes up to RMB 2 billion domestic corporate bonds

By Sarah Lizee

Olympia, Wash., July 18 – Hong Kong’s Hengtou Securities announced it plans to issue domestic corporate bonds.

The company said it is proposing an up to RMB 1 billion public issue of bonds and an up to RMB 1 billion non-public issue of bonds. Each issue would have a par issue price. The coupons would be determined based on bookbuilding results.

The public issue would have a maturity of up to five years, and the non-public issue would have a maturity of up to three years.

The bonds may be issued in multiple tranches.

The company’s board was set to meet on Thursday to consider the issuances.

Hengtou said the purpose of the issuances is to expand financing channels and optimize the debt structure of the company, as well as meet the needs of the company’s operations and business development.

The issues are subject to shareholder approval at a meeting to be held on Sept. 6.

Hengtou is an investment management company. Hengtou Securities is the business name under which Hengtai Securities Co., Ltd. does business in Hong Kong.

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