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Fuchunjiang Environmental Thermoelectric to issue RMB 400 mln in bonds

Jun. 1, 2012 (China Knowledge) - Zhejiang Fuchunjiang Environmental Thermoelectric Co<002479> announced today that it plans to issue RMB 400 million worth of unsecured bonds with a maturity of five years from Jun. 5 to Jun. 7.

The company said in a statement that the bonds will be issued at face value and the coupon rate will be set between 6.70% and 7.10%.

The issuer and bonds has been rated AA and AA, respectively.

In the first quarter of this year, the company's net profit surged 64.86% YoY to RMB 55.32 million and its core business revenue soared 102.77% to RMB 543.22 million.
Fuchunjiang Environmental Thermoelectric is mainly engaged in waste-to-power generation as well as heat and steam production.

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