Conch Cement to invest CNY4bn in financing products

Conch Cement to invest CNY4bn in financing products
Published: 16 June 2011

Conch Cement announced that it will spend CNY4bn (US$617m) on financial products, reports Shanghai Securities News, citing a company filing.

The firm has just received CNY9.5bn through a corporate bond issuance with a coupon rate of five per cent.

One financial product that the firm will purchase from the Bank of China has an expected annualised return of 4.8 per cent.

Conch Cement signed a trust plan with Anhui Guoyuan Trust for CNY2.5bn with a maturity of one year at an estimated annual return of 5.85 per cent.

The firm formed another trust plan with Sichuan Trust for CNY750m for an estimated annualised return of 8.5 per cent.