China Suntien Green Energy gets commission OK for corporate bonds

By Marisa Wong

Madison, Wis., Oct. 24 - China Suntien Green Energy Corp. Ltd. said that the China Securities Regulatory Commission approved the company's proposed issuance of corporate bonds on Monday.

The company plans to issue up to RMB 2 billion of bonds in China.

Shareholders had approved the proposed issuance at a meeting on Aug. 26.

As previously reported, the corporate bonds will be issued in one or more tranches and will have maturities of 10 years or less. The bonds must be issued within 12 months of obtaining shareholder approval.

The bonds will be guaranteed by Hebei Construction & Investment Group Co., Ltd.

Proceeds will be used to adjust the company's debt structure and for working capital.

The wind power and natural gas company is based in Shijiazhuang City, Hebei Province, China.

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