Dongjiang Environmental gets OK to issue up to RMB 3 billion

By William Gullotti

Buffalo, N.Y., July 12 – China’s Dongjiang Environmental Co. Ltd. received regulatory approval to issue up to RMB 1.5 billion of medium-term notes and up to RMB 1.5 billion of super short-term financing bonds, according to a company announcement on Wednesday.

The registration for both the medium-term notes and the super short-term bonds will be valid for two years, starting July 11.

The medium-term notes are permitted to be issued in tranches, with the term of each issuance not to exceed five years.

Industrial Bank Co., Ltd. is the lead underwriter for the medium-term notes.

The bonds will likewise be issued in tranches, except with the terms of each issuance not to exceed 270 days.

Industrial Bank and Bank of Ningbo Co., Ltd. are the joint lead underwriters for the bonds.

The offerings will be publicly offered to national interbank bond market qualified institutional investors.

As previously reported, proceeds of the medium-term notes will be earmarked for project development, replenishment of working capital and debt repayment. Proceeds of the super short-term financing bonds will be used for day-to-day operating activities, including but not limited to repayment of interest-bearing debt such as bank loans and replenishment of working capital.

Based in Shenzhen, China, Dongjiang Environmental treats industrial and municipal waste.

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