China’s Universal Medical to place RMB 600 million three-year notes

By Marisa Wong

Morgantown, W.Va., Nov. 16 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Universal Medical Financial & Technical Advisory Services Co. Ltd., has decided to place RMB 600 million of three-year fixed-rate bonds, according to a company announcement.

The bonds will be sold at par. The coupon will be determined through a book-building process.

China Bohai Bank and Huatai Securities Co., Ltd. are the joint lead underwriters.

China Universal Leasing said it registered to issue up to RMB 1.5 billion of notes. This will be the company’s first tranche.

Proceeds will be used to replenish working capital.

The bonds are expected to be issued beginning Nov. 22.

Universal is a health care provider based in Beijing. Its subsidiary offers leasing services for medical equipment and transportation.

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