West China Cement unit preps RMB 800 million of notes for March 15

By Marisa Wong

Morgantown, W.Va., March 10 – West China Cement Ltd. said indirect wholly owned subsidiary Yaobai Special Cement Group Co., Ltd. has registered to issue RMB 1.2 billion of short-term notes and expects to issue the first tranche, in the amount of RMB 800 million, on March 15.

The first-tranche notes will have a term of one year.

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

Agricultural Bank of China Ltd. is the underwriter.

Proceeds will be used to repay bank loans and for general working capital.

The cement manufacturer and distributor is based in Xi'an, Shaanxi Province, China.

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