By Rebecca Melvin
New York, May 8 – West China Cement Ltd. said indirect wholly owned subsidiary Yaobai Special Cement Group Co., Ltd. issued RMB 500 million of 7˝% three-year notes on Wednesday.
Agricultural Bank of China Ltd. is the underwriter.
Proceeds will be used for general working capital.
The issue represents the first tranche being issued under the company’s previously registered RMB 1.5 billion of medium-term note program.
The cement manufacturer and distributor is based in Xiian, Shaanxi Province, China.
| Issuer: | Yaobai Special Cement Group Co., Ltd.
|
| Issue: | Notes
|
| Amount: | RMB 500 million
|
| Maturity: | Three years
|
| Underwriter: | Agricultural Bank of China Ltd.
|
| Coupon: | 7˝%
|
| Settlement date: | May 8
|
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