Shanghai Electric eyes up to RMB 3 billion exchangeable bonds

By Marisa Wong

Morgantown, W.Va., Nov. 14 – Shanghai Electric Group Co. Ltd. announced it plans to issue up to RMB 3 billion of exchangeable corporate bonds.

The bonds will have a maturity of up to six years and will be offered at par, according to a notice.

Proceeds will be used to repay debt and to supplement working capital.

The proposed issuance is subject to shareholder and regulatory approval.

The power generation and equipment manufacturing company is based in Shanghai.

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