China’s Huarong International eyes RMB 2 billion five-year bonds

By Marisa Wong

Morgantown, W.Va., Nov. 1 – Huarong International Financial Holdings Ltd. announced it plans to issue up to RMB 2 billion of five-year corporate bonds in multiple tranches.

The bonds will have a coupon adjustment option and put option at the end of the third year.

Huarong Securities Co., Ltd. will act as lead underwriter.

Proceeds will be used to repay existing debt and to replenish general working capital.

China Huarong Asset Management Co., Ltd., a state-owned asset manager based in Beijing, is the controlling shareholder of Huarong International.

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