Diwang Industrial hires placement agent for HK$250 million of bonds

Chicago, Nov. 11 – Diwang Industrial Holdings Ltd. hired CNI Securities Group as a placing agent for up to HK$250 million of 8% five-year bonds on a best-effort basis, according to a notice.

CNI has six months to place the bonds.

The bonds will be placed with any professional, individual, corporate, institutional or other investors who are independent third parties.

There will be no discount to the investors, but the agent will receive a 0.5% commission for any bonds sold.

The bonds may be redeemed at par starting on the one-year anniversary.

Closings will occur as the bonds are sold.

Diwang is a faux leather chemicals manufacturer in China. The group has also commenced the Chinese liquor business.

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