Shanghai Electric Group plans to offer up to RMB 4 billion of bonds

By Marisa Wong

Madison, Wis., July 27 - Shanghai Electric Group Co. Ltd. said it plans to issue up to RMB 4 billion of bonds to the public in China. The company's board of directors approved the proposed issuance at a meeting on Friday.

The bonds will be issued in one or more tranches with maturities of not more than 10 years.

Proceeds will be used for working capital.

The issuance is still subject to shareholders approval. The company said it expects to distribute a circular with details of the bond offering to shareholders on Aug. 10.

The power generation and equipment manufacturing company is based in Shanghai.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.