China's Zhuzhou CSR Times Electric plans up to RMB 800 million MTNs

By Marisa Wong

Madison, Wis., Oct. 27 - Zhuzhou CSR Times Electric Co., Ltd. said its board of directors approved the issuance of up to RMB 800 million of medium-term notes.

The notes will have a maturity of five years or less.

The proposed issue is subject to shareholder approval at a general meeting on Dec. 13.

Proceeds will be used to meet funding requirements and to reduce financing costs.

Zhuzhou CSR Times Electric is a Zhuzhou, China-based subsidiary of China South Locomotive and Rolling Stock Corp. Ltd., a Beijing-based manufacturer of electric locomotives.

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