China’s Fuguiniao proposes to issue debt instruments

By Marisa Wong

Morgantown, W.Va., Jan. 21 – Fuguiniao Co., Ltd. is proposing to issue debt instruments in China, according to a company announcement.

The company may issue the instruments in one or more tranches, with each tranche totaling no more than RMB 1.5 billion and having a maturity of no more than five years.

The instruments may include offshore renminbi-denominated bonds or dollar-denominated bonds.

The proposed issuance is subject to shareholders’ approval.

Proceeds will be used to satisfy the company’s production and operational needs, adjust its debt structure and supplement its general working capital or project investment.

Fuguiniao manufactures and sells footwear. The company is based in Shishi, Fujian, China.

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