Genertec Universal proposes RMB 1.1 billion second tranche of notes

Chicago, Sept. 10 – Genertec Universal Medical Group Co. Ltd. has proposed a second issue of notes (China Chingxin: AAA) in the amount of RMB 1.1 billion, according to an announcement.

The second tranche relates to approval for up to RMB 1.6 billion of bonds.

The notes will be sold in increments of RMB 100 per note.

The notes will be through wholly owned subsidiary China Universal Leasing Co., Ltd.

The first tranche for RMB 500 million was completed on April 8.

The new notes will have a two-year term and a coupon which will be determined through the bookbuilding process.

Citic Securities Co., Ltd. and Bank of China Ltd. are the joint lead underwriters for the notes.

Proceeds will be used to repay maturing debt.

Trading is expected in the interbank bond market in China from Sept. 17.

The health care company is based in Hong Kong.

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