China’s Quanzhou Huixin Micro-credit eyes RMB 500 million of bonds

By Marisa Wong

Morgantown, W.Va., Dec. 11 – Quanzhou Huixin Micro-credit Co., Ltd. is proposing to issue up to RMB 500 million of bonds with maturities of up to three years.

The bonds will be guaranteed by Fujian Septwolves Group, according to a company announcement.

Proceeds will be used to replenish working capital, to repay bank loans and for other purposes.

The proposed issuance is subject to shareholders’ approval. If granted, the approval would be valid for 24 months.

Quanzhou Huixin Micro-credit is a microfinance company based in Quanzhou, Fujian, China. Fujian Septwolves is a tobacco and clothing brand based in Xiamen, Fujian, China.

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