China Financial Services to offer renminbi bonds through JPMorgan

By Angela McDaniels

Tacoma, Wash., Feb. 5 – China Financial Services Holdings Ltd. plans to offer Chinese renminbi-denominated senior bonds, according to a company news release.

The Regulation S bonds will be issued by subsidiary Golden Bauhinia Investment Holdings Co. Ltd. and guaranteed by China Financial Services and China United SME Guarantee Corp., a third-party guarantor.

Completion of the bond issue is subject to market conditions and investor interest.

The principal amount, the offer price and the interest rate will be determined through a book-building exercise to be conducted by lead manager J.P. Morgan Securities (Asia Pacific) Ltd.

The Beijing-based provider of financial services will use the proceeds for the development of the group’s business in Hong Kong and for other general corporate purposes.

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