China’s Universal Medical shelves RMB 600 million notes offering

By Marisa Wong

Morgantown, W.Va., Nov. 21 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Universal Medical Financial & Technical Advisory Services Co. Ltd., cancelled its plans to place RMB 600 million of three-year fixed-rate notes due to market fluctuations, according to a company announcement.

The company had announced on Nov. 16 that it would issue the notes at par beginning Nov. 22.

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

China Universal Leasing previously registered to issue up to RMB 1.5 billion of notes. This was to be the company’s first tranche. Proceeds were to be used to replenish working capital.

The company said it will renew its proposed issuance when appropriate.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.