Hong Kong’s Red Star Macalline may issue up to RMB 10 billion bonds

By Susanna Moon

Chicago, July 31 – Red Star Macalline Group Corp. Ltd. proposes issuing up to RMB 10 billion corporate bonds with a maturity of up to seven years.

Proceeds would be used for repaying the loans, for replenishing working capital, for financing construction of projects and for improving the company’s financial conditions.

The company’s board also is seeking to obtain a general mandate from the shareholders for the issue of up to RMB 4 billion of bonds or equivalent in foreign currencies, according to a company notice.

The proposed bond issues are subject to shareholder approval.

Red Star Macalline Group is a Hong Kong-based company principally engaged in operating and managing home improvement and furnishings shopping malls.

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