China Conch unit considering up to RMB 3 billion medium-term notes

By William Gullotti

Buffalo, N.Y., April 9 – China Conch Environment Protection Holdings Ltd.’s Anhui Conch Environment Group Co., Ltd. subsidiary received approval for a resolution to issue up to RMB 3 billion medium-term notes in China’s interbank bond market, according to a company announcement on Tuesday.

Controlling shareholder Anhui Conch Cement Co., Ltd. will guarantee the proposed offering, which may be issued in one or more tranches with tenors of no more than five years.

Interest will be determined by book building.

Proceeds will be used to replenish working capital, for repaying interest-bearing debt and for investing in projects.

Anhui Conch Cement is an Anhui Province, China-based company principally engaged in production and sale of cement, commodity clinker and aggregate. China Conch is a Wuhu, China-based investment holding company.

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