By Marisa Wong
Madison, Wis., June 17 - Zhuzhou CSR Times Electric Co., Ltd. announced it priced RMB 500 million of short-term debentures on Thursday.
Shanghai Pudong Development Bank Co., Ltd. led the syndicate of underwriters for the debentures.
The debentures priced at par of RMB 100 with a fixed coupon of 4.77% and have a maturity of 366 days.
This was 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.
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.
| Issuer: | Zhuzhou CSR Times Electric Co., Ltd.
|
| Issue: | Short-term debentures
|
| Amount: | RMB 500 million
|
| Maturity: | 366 days
|
| Coupon: | 4.77%
|
| Price: | Par of RMB 100
|
| Yield: | 4.77%
|
| Underwriter: | Shanghai Pudong Development Bank Co., Ltd. (lead)
|
| Pricing date: | June 16
|
| Settlement date: | June 20
|
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