Zhejiang Expressway’s Zheshang Securities plans public sale of convertible bonds

Chicago, Oct. 1 – Zhejiang Expressway Co., Ltd. posted a notice that its subsidiary Zheshang Securities Co. Ltd. is planning to sell a public issue of convertible bonds, according to a regulatory announcement.

According to the resolutions from Zheshang’s board, the company can issue up to RMB 7 billion of the par RMB 100 bonds.

The six-year bonds will have a coupon rate that is determined with the help of the lead underwriter.

The bonds will be convertible starting six months from the time of issuance.

Zhejiang Expressway is a Hangzhou, China-based infrastructure company.

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