China's Zhuzhou CSR Times Electric plans RMB 500 million debentures

By Marisa Wong

Madison, Wis., June 9 - Zhuzhou CSR Times Electric Co., Ltd. said it will issue RMB 500 million of short-term debentures.

Shanghai Pudong Development Bank Co., Ltd. leads the syndicate of underwriters for the debentures.

The debentures will have a maturity of 366 days.

The coupon has yet to be determined.

This will be the company's second tranche of short-term debentures. The first tranche totaling RMB 500 million was issued on July 19, 2010.

The offer is expected to close on June 20.

Proceeds will be used to supplement the company's working capital needs.

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.

© 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.