China’s Poly Culture proposes up to RMB 2 billion overseas bonds

By Marisa Wong

Morgantown, W.Va., Oct. 8 – Poly Culture Group Corp. Ltd. is proposing to issue up to RMB 2 billion of overseas bonds, according to a company announcement.

The bonds may be issued in a single tranche or multiple tranches and will be offered outside China, including Hong Kong, through public offerings or private placements.

The bonds will have maturities of 10 years or less.

Proceeds will be used for business operation needs, to adjust the company’s debt structure, to supplement working capital and for investments in projects.

The proposed issuance is subject to shareholders’ approval at an upcoming meeting.

Beijing-based Poly organizes large-scale art and cultural activities and performances.

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