Genertec Universal Medical gears up to offer RMB 500 million bonds

By Marisa Wong

Los Angeles, June 24 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Genertec Universal Medical Group Co. Ltd., plans to issue an up to RMB 500 million tranche of renewable corporate bonds at par, according to a company announcement.

The company previously obtained regulatory approval to issue up to RMB 3.5 billion of renewable corporate bonds. Currently, there is a balance of RMB 1.84 billion to be issued in installments.

The base term of the bonds is two years, after which the issuer may reprice and extend the bonds for another two years or repay the bonds in full. The issuer has this option at the end of every two-year repricing period.

The initial interest rate will be determined at the end of a subscription period through book-building processes. The notes are expected to be issued off-line from June 25.

The health care company is based in Hong Kong.

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