China’s Yingde Gases unit plans RMB 980 million 4%-6% bonds due 2020

By Marisa Wong

Morgantown, W.Va., Sept. 30 – Yingde Gases Group Co. Ltd. announced that its wholly owned subsidiary, Hunan Yingde Gases Co. Ltd., plans to issue up to RMB 980 million of corporate bonds.

The bonds will have a maturity of five years. At the end of the third year, the issuer will have the option to increase the coupon rate and holders will be able to put the bonds.

The interest rate is expected to be between 4% and 6%.

The bonds will be issued at par on Oct. 13.

Proceeds will be used to supplement working capital, repay existing bank loans and invest in projects.

Yingde Gases is a Hong Kong-based supplier of industrial gases.

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