China Universal to issue up to RMB 1 billion three-year bonds

By William Gullotti

Buffalo, N.Y., July 5 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Genertec Universal Medical Group Co. Ltd., intends to issue up to RMB 1 billion of bonds (Chengxin: AAA), according to an announcement on Sunday.

The issuance will be the issuer’s second tranche of medium-term notes in 2022, following its RMB 500 million issue of 3.38% five-year notes that settled May 30.

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.

Postal Savings Bank of China Co., Ltd. and Bank of Jiangsu Co., 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 July 7.

The health care company is based in Hong Kong.

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