China's Sinoma plans to offer up to RMB 4 billion of short-term bonds

By Marisa Wong

Madison, Wis., July 3 - China National Materials Co. Ltd. (Sinoma) announced it plans to issue up to RMB 4 billion of short-term financing bonds in China.

The bonds will have a maturity of one year and will be issued in one or more tranches.

The company said it is pursuing the bond offer to satisfy its operation needs and to improve its financing channel, as well as to lower financial costs.

The proposed issuance is subject to shareholders' approval at an upcoming extraordinary general meeting.

The non-metal materials manufacturer is based in Beijing.

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