UFIDA Software To Issue 600M Yuan Of MTNs

Date:2011-09-03lile  Text Size:

September 1 -- UFIDA Software (600588) plans to issue 600 million yuan worth of five-year MTNs on the interbank market on September 8, reports sina.com, citing a company filing.

The MTNs will be underwritten by CICC and Bank of Beijing.

Of the proceeds raised, 120 million yuan will be used to build the first phase of a software industrial park in Jiangxi province, and 200 million yuan will be used to repay bank loans. The remainder will be used to supplement operating cash flow.

The company had posted a 360.3 percent year-on-year increase in first half 2011 net profit to 122 million yuan, while revenue hit 1.46 billion yuan, up 60.9 percent

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