Hong Kong-based Powerlong’s Shanghai unit plans RMB 4 billion bonds

By Marisa Wong

Morgantown, W.Va., Dec. 15 – Powerlong Real Estate Holdings Ltd. said its wholly owned subsidiary, Shanghai Powerlong Industrial Development Co., Ltd., plans to issue up to RMB 4 billion of corporate bonds.

The China Securities Regulatory Commission approved public offerings of the bonds on Monday.

The bonds will be issued in tranches, with the first tranche to be completed within 12 months and the remaining tranches to be completed within 24 months.

Powerlong is a Hong Kong-based real estate company.

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