China's Zhejiang Expressway plans up to RMB 1 billion of bonds

By Marisa Wong

Madison, Wis., March 20 - Zhejiang Expressway Co., Ltd. said it plans to issue up to RMB 1 billion of domestic corporate bonds in one or more tranches with maturities of up to 10 years.

Proceeds will be used for general working capital purposes.

The bonds were approved by the company's board of directors on Tuesday but are still subject to shareholders' approval at an upcoming general meeting.

The infrastructure company is based in Hangzhou, China.

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