By Marisa Wong
Madison, Wis., July 13 - Yingde Gases Group Co. Ltd. announced that its wholly owned subsidiary, Hunan Yingde Gases Co. Ltd., issued RMB 880 million of medium-term notes on July 13.
The notes were issued at par with a coupon of 5½% and a maturity of five years.
China Guangfa Bank Co., Ltd. is the lead manager.
Proceeds will be used to fund the company's general working capital, improve its debt structure and repay existing borrowings.
Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. has assigned an AA rating to the notes.
Yingde Gases is a Hong Kong-based supplier of industrial gases.
| Issuer: | Hunan Yingde Gases Co. Ltd.
|
| Issue: | Medium-term notes
|
| Amount: | RMB 880 million
|
| Maturity: | July 13, 2017
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Agent: | China Guangfa Bank Co., Ltd.
|
| Settlement date: | July 13
|
| Rating: | Shanghai Brilliance: AA
|
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