Conch to issue CNY9.5bn in bonds in 2011
Anhui Conch Cement Co Ltd, the biggest cement producer in Asia by output, plans to issue CNY9.5bn (US$1.5bn) in corporate bonds in mainland China this year, sources reported, citing Executive Director Guo Jingbin as saying. The exact timetable for the bond offering will depend on market condition, said Guo.
Currently, the company’s liability ratio is 41%, which is lower than the industry average of 60%, Guo noted, adding that the company has options to raise more money for its business expansion. As of the end of last year, the company had CNY6bn in cash.
Published under Cement News
