Genertec Universal Medical plans up to RMB 1 billion five-year bonds

By William Gullotti

Buffalo, N.Y., Jan. 11 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Genertec Universal Medical Group Co. Ltd., is planning an up to RMB 1 billion tranche of five-year tier 1 corporate bonds (Chengxin: AAA) to be issued at par, according to a company announcement on Tuesday.

The company has approval to issue up to RMB 5 billion of corporate bonds over two years. Currently, there is a balance of RMB 1.5 billion to be issued in installments. The upcoming offering will be the first tranche for 2022.

The initial interest rate will be determined at the end of a subscription period through book-building processes.

A coupon rate adjustment option becomes available after three years, at which time call and put options likewise become available.

The tier 1 notes are expected to be issued off-line from Jan. 12.

The health care company is based in Hong Kong.

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