China's Maoye Shangsha plans up to RMB 400 million one-year notes

By Marisa Wong

Madison, Wis., Dec. 23 - Maoye International Holdings Ltd. announced that its wholly owned subsidiary, Shenzhen Maoye Shangsha Co. Ltd., plans to issue up to RMB 400 million of short-term financing notes.

The company expects to issue the notes in one tranche with a maturity of one year.

The interest rate will be determined through a book-building process.

Bank of China Ltd. will be the lead underwriter and bookrunner, and China Construction Bank Corp. will be the joint lead underwriter for the proposed notes.

This will be Maoye Shangsha's second tranche of short-term notes for 2013. The subsidiary issued the first tranche totaling RMB 800 million in April 2013.

Proceeds from the first tranche will be used to repay bank loans and for general working capital purposes.

Maoye is a department store based in Shenzhen, China.

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