China’s Fuguiniao to offer up to RMB 1.5 billion corporate bonds

By Marisa Wong

Morgantown, W.Va., March 8 – Fuguiniao Co., Ltd. is planning to issue up to RMB 1.5 billion of corporate bonds, according to a company announcement.

The bonds will have a maturity of no more than five years.

China Great Wall Securities Co., Ltd. is the underwriter.

Proceeds will be used to supplement general working capital and to repay bank loans.

The company first announced plans to issue debt instruments in January. Shareholders recently approved the proposal at a general meeting.

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

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