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China's Yingde Gases plans to offer notes via Deutsche Bank, HSBC
By Toni Weeks
San Luis Obispo, Calif., Aug. 20 – Yingde Gases Group Co. Ltd. is planning an international offering of notes with joint global coordinators, joint bookrunner and joint lead managers Deutsche Bank AG, Singapore Branch and HSBC Ltd., a market source said.
The Rule 144A and Regulation S notes will be issued by subsidiary Yingde Gases Investment Ltd. and guaranteed by Yingde Gases Group and its subsidiaries. Pricing will be determined through a bookbuilding exercise.
Of the proceeds, the company plans to use 40% for refinancing some existing onshore debt, 40% for capital expenditures and 20% for working capital and general corporate purposes.
Yingde Gases is a Hong Kong-based producer of industrial gases.
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