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Zhongli Science and Technology to issue RMB 800 mln in bonds

Jun. 18, 2012 (China Knowledge) - Zhongli Science and Technology Group Co<002309>, a cable producer based in Jiangsu Province, said today that it plans to issue RMB 800 million of secured bonds with a maturity of five years from Jun. 20 to Jun. 26.

The bonds will be issued at face value, and coupon rate be set between 6.2% and 6.9%.

The bonds and issuer have been rated AA+ and AA, respectively.

Guosen Securities Co has been hired as lead underwriter for the offering.

Proceeds from the offering will be used to replenish the company's working capital and repay bank loans.

In the first three months of this year, the company's net profit was RMB 43.57 million, and its operating revenue was RMB 1.39 billion.

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