China Railway plans up to RMB 30 billion domestic, overseas bonds

By Marisa Wong

Morgantown, W.Va., April 25 – China Railway Group Ltd. is proposing to issue up to RMB 30 billion of domestic and overseas bonds, according to a company announcement.

Proceeds will be used for project investments, for mergers and acquisitions, to replenish working capital, to replenish cash flow and to repay bank loans.

The proposed issuance is subject to shareholders’ approval.

The construction group is based in Beijing.

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