China’s Universal Medical plans RMB 450 million more one-year bonds

By Marisa Wong

Morgantown, W.Va., Nov. 23 – China Universal Leasing Co., Ltd., a wholly owned subsidiary of Universal Medical Financial & Technical Advisory Services Co. Ltd., will issue a second tranche of 366-day bonds totaling RMB 450 million, according to a company announcement.

In October the company registered to issue up to RMB 900 million of short-term bonds in China and launched an initial tranche totaling RMB 450 million with a term of 366 days.

The second-tranche bonds will be sold at par. The coupon will be determined through a bookbuilding process.

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

Universal is a healthcare provider based in Beijing. Its subsidiary offers leasing services for medical equipment and transportation.

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