China’s Sinopharm proposes up to RMB 10 billion corporate bonds

By Marisa Wong

Madison, Wis., June 22 – Sinopharm Group Co. Ltd. said it plans to issue up to RMB 10 billion of corporate bonds in China.

The bonds may be issued in one or more tranches and will have maturities of up to 10 years.

Proceeds will be used to repay bank loans, improve the company’s debt structure and supplement working capital.

The proposed issue is subject to shareholders’ approval at an upcoming general meeting. If granted, the approval would be valid for 24 months.

Sinopharm is a Beijing-based pharmaceutical company.

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