Jidong Cement set to sell debt financing instruments

Jidong Cement set to sell debt financing instruments
Published: 08 August 2012


Tangshan Jidong Cement Co plans to issue not more than CNY3bn (US$471m) debt financing instruments maturing in not more than three years in a non-public offering. Financing will be used to replenish working capital and repay bank loans.

Coupon rate of the issuance will be determined in accordance with capital supply and demand relation on bond market and companies' demands; interest rate of the instruments will be determined in terms of an agreement that investors and the company sign. The debt financing instruments will be sold to certain institutional investors of interbank bond market nationwide.

In a bid to expand financing channels, optimize debt structure and cut financing costs, the company plans to register an issuance of not more than CNY 3bn short-term financing bills, with term being not more than 365 days. The short-term financing bills will be sold at face value, and interest rate will be determined through discussions according to market situation. (Source: SinoCast)