China’s Maoye Shangsha plans to issue RMB 800 million one-year notes

By Marisa Wong

Madison, Wis., June 27 – Maoye International Holdings Ltd. announced that its wholly owned subsidiary, Shenzhen Maoye Trade Building Co. Ltd. (Maoye Shangsha), plans to issue RMB 800 million of one-year notes on July 4.

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

Maoye Shangsha has registered to issue up to RMB 1.6 billion of short-term financing notes. This will be the subsidiary’s first tranche of short-term financing notes for 2014.

Proceeds will be used to repay bank loans and for general working capital purposes.

China Cheng Xin International Credit Rating Co. Ltd. has assigned an A-1 rating to the notes.

Maoye is a department store based in Shenzhen, China.

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