China Traditional Chinese Medicine to offer RMB 2.5 billion notes

By Marisa Wong

Morgantown, W.Va., Nov. 9 – China Traditional Chinese Medicine Holdings Co. Ltd. said it has registered to issue up to RMB 4.5 billion of medium-term notes.

The company plans to issue an initial tranche of RMB 2.5 billion with a maturity of three years.

The company said it intends to use RMB 500 million of the proceeds from the first tranche to repay debt, RMB 500 million to expand production facilities and the remaining RMB 1.5 billion as working capital.

The issuer is a Hong Kong-based investment holding company focused on the research and development, production and sale of Chinese medicine and pharmaceutical products.

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