Genertec Universal unit prices RMB 1 billion note offering at par

By William Gullotti

Buffalo, N.Y., Aug. 30 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Genertec Universal Medical Group Co. Ltd., plans to issue an up to RMB 1 billion tranche of domestic medium-term notes at par, according to a company announcement on Tuesday.

The company previously obtained regulatory approval to issue up to RMB 3 billion of domestic medium-term notes. Of that approved total, RMB 2 billion balance remains available to be issued in several tranches.

The upcoming offering, dubbed the third tranche of domestic medium-term notes, marks the company’s eighth issuance of 2022.

The notes will have a three-year tenor and a fixed interest rate to be determined at the end of the subscription period via bookbuilding.

The notes are expected to be traded on the interbank bond market of China starting Sept. 6.

CSC Financial Co., Ltd. and Bank of Communications Co., Ltd. are the joint lead underwriters for the issue.

Proceeds from the offering will be used for repaying maturing debt.

The health care company is based in Hong Kong.

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