Hong Kong’s Genertec Universal Medical scraps planned notes offering

By Marisa Wong

Los Angeles, March 19 – Genertec Universal Medical Group Co. Ltd. said it has decided to cancel its proposed issuance of medium-term notes.

The offering did not progress as expected due to the recent volatility in China’s domestic market, the issuer noted.

The second-tranche notes would have been issued through wholly owned subsidiary China Universal Leasing Co., Ltd.

The Hong Kong-based health care company had registered to issue RMB 900 million of medium-term notes in China and issued a first tranche of RMB 500 million of 3.68% three-year notes on March 5.

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