China Universal to issue up to RMB 500 million three-year bonds

By William Gullotti

Buffalo, N.Y., Dec. 15 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Genertec Universal Medical Group Co. Ltd., intends to issue up to RMB 500 million of bonds (Chengxin: AAA), according to a notice on Wednesday.

The issuance will be the third and final tranche of the issuer’s approved RMB 1.6 billion domestic medium-term notes. The first tranche was for RMB 500 million and settled on April 8, 2021, and the second was for RMB 600 million that settled on Sept. 16.

As with the preceding tranches, the bonds will be sold at par in increments of RMB 100 per note.

The intended bonds will have a three-year term and a coupon which will be determined through the bookbuilding process.

Citic Securities Co., Ltd. and Bank of China Ltd. are the joint lead underwriters.

Proceeds will be used to repay maturing debt.

Trading is expected in the interbank bond market in China starting Dec. 21.

The health care company is based in Hong Kong.

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