China's Jiangsu Expressway plans to offer up to RMB 1.5 billion MTNs

By Marisa Wong

Madison, Wis., Sept. 6 - Jiangsu Expressway Co. Ltd. said it plans to issue up to RMB 1.5 billion of medium-term notes. The company's board of directors approved the proposed bonds on Aug. 17.

The bonds, which will have a maturity of five years or less, will be offered to institutional investors in China's interbank debt market.

Proceeds will be used as working capital.

The bond issuance is subject to shareholders' approval at a general meeting to be held on Oct. 26.

Based in Nanjing, China, the company is engaged in the investment, construction, operation and management of toll expressways in Jiangsu province.

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