By Angela McDaniels
Seattle, Nov. 27 - Sichuan Expressway Co. Ltd. said it issued RMB 1.5 billion of short-term commercial paper due Nov. 27, 2007 at 96.29% of par.
The paper was issued in the People's Republic of China interbank debt market through centralized allotment to members on register via a group of underwriters led by China Construction Bank Corp., according to a company news release.
Proceeds will be used for working capital and to lower the company's financing costs.
The issue was approved by the company's shareholders on Aug. 1 and by the People's Bank of China on Nov. 15.
Sichuan Expressway is a toll road operator based in Chengdu, China.
| Issuer: | Sichuan Expressway Co. Ltd.
|
| Issue: | Short-term commercial paper
|
| Amount: | RMB 1.5 billion
|
| Maturity: | Nov. 27, 2007
|
| Unit price: | RMB 100
|
| Issue price: | RMB 96.29
|
| Settlement date: | Nov. 27
|
| Underwriters: | China Construction Bank Corp. (lead)
|
© 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.
