Genertec unit to sell up to RMB 1 billion five-year bonds

By William Gullotti

Buffalo, N.Y., Feb. 27 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Genertec Universal Medical Group Co. Ltd., is preparing to offer a second tranche of 2024 corporate bonds in China, according to a notice on Tuesday.

The company has approval to issue up to RMB 8 billion of bonds. Currently, RMB 2.6 billion of bonds remain to be issued under that approval.

As with the first tranche issued by the company in January, the second tranche of 2024 bonds is priced at the par value of RMB 100 and will be capped at RMB 1 billion.

The five-year bonds will be callable and putable at the ends of the second, third and fourth years. Additionally, the coupon may be adjusted on those anniversaries.

The bonds will be placed on the Shanghai Stock Exchange.

The bonds are expected to be issued offline starting Feb. 28.

The medical equipment manufacturing subsidiary is based in Beijing.

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