Shenzhen Expressway receives regulatory approval for bonds

By Mary-Katherine Stinson

Lexington, Ky., April 18 – Shenzhen Expressway Corp. Ltd. received approval from the China Securities and Regulatory Committee for the registration of a public issuance of corporate bonds in an amount not to exceed RMB 8 billion, according to a company release.

As a result, the company may issue the bonds by tranches within 24 months of the date of approval to professional investors.

In a separate notice, the company also announced it will ask shareholders to approve the issue of up to RMB 3 billion of perpetual medium-term notes to be issued in one or several tranches in the inter-bank bond market in China.

Proceeds from the perpetuals will be used for business activities including funding the company’s construction projects and proposed investment projects, repaying maturing debts, replenishing working capital, equity acquisition, capital injection to subsidiaries and other purposes that comply with regulatory requirements.

Shareholders will be asked to approve the issuance at the company’s annual general meeting on May 23.

Shenzhen Expressway, formerly Shenzhen Expressway Co. Ltd., is a Shenzhen, Guangdong China-based company mainly engaged in the investment, construction, operation and management of toll roads and other cities and transportation infrastructure.

© 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.