Shanghai Dongzheng eyes debt instruments up to RMB 2.5 billion

By Mary Katherine Stinson

Lexington, Ky., Dec. 21 – Shareholders of Shanghai Dongzheng Automotive Finance Co., Ltd. will vote to allow the board to issue debt instruments up to RMB 2.5 billion at an upcoming extraordinary general meeting, according to a notice.

The board is seeking approval to issue debt in one or several tranches in domestic or overseas markets, including but not limited to securities market bonds, corporate bonds, company bonds, usufruct transfer of credit assets, asset-backed securities, asset-backed notes, domestic or overseas debt financing instruments denominated in renminbi or foreign currencies.

The approval will remain effective to Dec. 31, 2024 following the extraordinary general meeting.

The first extraordinary general meeting of 2024 is scheduled to occur at 9 p.m. ET on Jan. 16.

The financing is being pursued to satisfy the company’s objective of long-term and stable development, optimize its capital structure and to take advantage of favorable market opportunities.

Shanghai Dongzheng is a Shanghai-based company providing auto finance products and services.

© 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.