China’s Maoye Shangsha plans up to RMB 2.8 billion bonds via BOC

By Marisa Wong

Morgantown, W.Va., Aug. 31 – Maoye International Holdings Ltd. announced that its wholly owned subsidiary, Shenzhen Maoye Trade Building Co. Ltd. (Maoye Shangsha), plans to issue up to RMB 2.8 billion of bonds in one or more tranches with maturities of no more than six years.

BOC International will be the underwriter for the proposed issuance.

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

Proceeds 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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