Chiwan Wharf To Issue 1.2B Yuan In Bonds

Date:2011-09-08lile  Text Size:

Wednesday 2011-09-07  15:58 Publisher: CapitalVue
September 7 – Shenzhen Chiwan Wharf Holdings (000022) filed it plans to issue 1.2 billion yuan worth of corporate bonds to expand its financing channels, optimize debt structure and lower financing costs, reports the China Securities Journal. The bonds have maturities of 10 years, and proceeds will be used to repay loans and supplement cash flows.

Chiwan Wharf incurred financing costs of 28.61 million yuan during the first half of 2011, compared to 4.92 million yuan recorded the same period last year.

As of June 30, the firm’s short-term debt hit 1.46 billion yuan.

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