China’s Universal Medical to offer RMB 450 million one-year bonds

By Marisa Wong

Morgantown, W.Va., July 20 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Universal Medical Financial & Technical Advisory Services Co. Ltd., has decided to launch its first tranche of short-term financing bonds with an aggregate principal amount of RMB 450 million, according to a company announcement.

The 365-day bonds will have a fixed interest rate that will be determined through a book-building process. The bonds will be sold at par.

Bank of Beijing Co., Ltd. and Industrial Bank Co., Ltd. are the joint lead underwriters.

The company said it has registered to issue a total of up to RMB 850 million of domestic short-term financing bonds.

Proceeds will be used to replenish working capital and to repay bank loans.

Universal is a health care provider based in Beijing. Its subsidiary offers leasing services for medical equipment and transportation.

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