China’s Yingde Gases unit sets coupon for bonds due 2020 at 5.48%

By Marisa Wong

Morgantown, W.Va., Oct. 13 – Yingde Gases Group Co. Ltd. said its wholly owned subsidiary, Hunan Yingde Gases Co. Ltd., has set the coupon for its upcoming bonds at 5.48%.

As announced on Sept. 30, the company 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 was expected to be between 4% and 6% and was determined through a book-building process.

The bonds are slated to be issued at par on Tuesday.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.