China’s Ping Shan Tea plans to place up to HK$250 million 7% bonds

By Marisa Wong

Morgantown, W.Va., Aug. 6 – Ping Shan Tea Group Ltd. announced it plans to place up to HK$250 million of 24-month bonds.

The bonds will be priced at par with a coupon of 7%.

PC Securities Ltd. will be the agent.

The bonds will be conditionally callable and putable.

The Hong Kong-based investment holding company said the purpose of the placing is for expansion of current production capacities, working capital and potential acquisitions.

Ping Shan markets and sells tea in China.

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