China's Nine Dragons Paper sells RMB 1.1 billion of three-year notes

By Susanna Moon

Chicago, Dec. 12 - Nine Dragons Paper (Holdings) Ltd. said it issued RMB 1.1 billion of three-year medium-term notes on Monday.

The notes were issued "at the prevailing interest rate," according to a company press release.

Bank of China Ltd. and Bank of Communications Co., Ltd. were the lead managers. Bank of Communications Co., Ltd. was the bookrunner.

Proceeds will be used to repay the bank loans and finance the working capital requirement of the group.

Nine Dragons produces packaging paperboard products. The company is incorporated in Bermuda and based in Dongguan, China.

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