China’s Red Star Macalline plans up to RMB 15 billion domestic debt

By Marisa Wong

Morgantown, W.Va., March 8 – Red Star Macalline Group Corp. Ltd. is proposing to issue up to RMB 15 billion of domestic debt financing instruments in one or more tranches with maturities of up to 10 years.

Proceeds will be used to meet the company’s operation needs, adjust its debt structure, supplement working capital or invest in projects.

As previously announced, the company is also planning to issue up to $700 million of bonds with maturities of up to 10 years. The notes will be issued by Red Star subsidiary Hong Kong Red Star Macalline Universal Home Furnishings Ltd. The senior unsecured bonds will be sold under Regulation S.

The proposed issuances are subject to shareholders’ approval at an upcoming meeting.

Based in Hong Kong, Red Star Macalline is principally engaged in operating and managing home improvement and furnishings shopping malls.

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