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Newssummary: Shandong Hongqiao Issues $196-Mln Corporate Bonds for Two Fabrication Projects
Mar 10,2014 16:56CST
company news
Source:SMM
Shandong Hongqiao New Material Co. raised a total of 1.2 billion yuan ($196 million) to finance two new fabrication projects and to supplement working capital, China Economic Herald reported today.

SHANGHAI, Mar. 10 (SMM) – Shandong Hongqiao New Material Co. raised a total of 1.2 billion yuan ($196 million) to finance two new fabrication projects and to supplement working capital, China Economic Herald reported today. 
 
The company raised the funds by issuing 7-year corporate bonds, with 1.1 billion yuan for an 80,000-tpy production line for aviation-use aluminum foam and a 60,000-tpy line for high-precision aluminum foils used in air conditioners. The rest 100 million yuan would be allocated for additional operation funds of the company, the report added.

China Hongqiao Group Ltd., publicly-traded in Hong Kong, was enlisted to provide full unconditional and irrevocable joint and several liability guarantee, the newspaper cited an unnamed company executive as saying.
 

China Hongqiao Group Ltd.
Chinese news summary
Shandong Hongqiao New Material Co.

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