China’s Zoomlion plans to sell up to RMB 10 billion bonds, MTNs

By Marisa Wong

Morgantown, W.Va., March 29 – Zoomlion Heavy Industry Science and Technology Co., Ltd. is proposing to issue up to RMB 5 billion of bonds through a public offering, according to a company announcement.

The bonds will be issued at par with maturities of no more than five years.

The company is also proposing to issue to institutional investors up to RMB 5 billion of medium-term notes with terms of up to five years.

Proceeds from the bonds and MTNs will be used to replenish working capital and repay bank loans or other interest-bearing debt.

The proposed securities are subject to shareholders’ approval.

Zoomlion is a heavy machinery manufacturer based in Changsha, China.

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