By Marisa Wong
Morgantown, W.Va., March 15 – West China Cement Ltd. said indirect wholly owned subsidiary Yaobai Special Cement Group Co., Ltd. issued RMB 800 million of one-year notes on Tuesday.
The first-tranche notes were priced with a coupon of 5˝%, according to a company announcement.
Agricultural Bank of China Ltd. is the underwriter, as noted before.
The company previously registered to issue RMB 1.2 billion of short-term notes.
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.
| Issuer: | Yaobai Special Cement Group Co., Ltd.
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| Issue: | Short-term notes, first tranche
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| Amount: | RMB 800 million
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| Maturity: | One year
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| Coupon: | 5˝%
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| Underwriter: | Agricultural Bank of China Ltd.
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| Settlement date: | March 15
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