China Huarong Asset Management eyes RMB 60 billion bonds for 2017

By Marisa Wong

Morgantown, W.Va., Dec. 30 – China Huarong Asset Management Co., Ltd. announced it plans to issue up to RMB 60 billion of financial bonds in 2017.

The fixed-rate bonds will be issued in one or more tranches with maturities of up to 10 years.

Proceeds will be used to supplement working capital, optimize the company’s assets and liabilities structure and promote business development.

The proposed issuance is subject to shareholders’ approval at an upcoming meeting.

The state-owned asset manager is based in Beijing.

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