By Susanna Moon
Chicago, July 19 - Zhuzhou CSR Times Electric Co., Ltd.'s board of directors said the company completed the issue of RMB 500 million of 3.18% short-term debentures on Monday.
The debentures sold at par of RMB 100 and are due in 365 days.
Proceeds will be used for the working capital needs of the company's major production and business operations.
The issue date is July 15, and the registration date is July 19.
Zhuzhou said it will post the details of the deal Tuesday on the web site of China Money at chinamoney.com.cn.
Shanghai Pudong Development Bank, Ltd. was the lead underwriter.
The issuer is a Zhuzhou, China-based company that sells and manufactures train-borne electrical systems and electrical components.
| Issuer: | Zhuzhou CSR Times Electric Co., Ltd.
|
| Issue: | Debentures
|
| Amount: | RMB 500 million
|
| Maturity: | 365 days
|
| Underwriter: | Shanghai Pudong Development Bank, Ltd.
|
| Coupon: | 3.18%
|
| Price: | Par
|
| Yield: | 3.18%
|
| Settlement date: | July 15
|
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