China Rongsheng bags $317m cash
Tuesday, 01 May 2012 | 00:00
China Rongsheng Heavy Industries has bagged RMB2bn ($317.1m) from the issuance of the first tranche of medium-term notes on Saturday.
The notes carry an interest rate of 5.95% a year over a three-year period, China Rongsheng said in a statement to the Hong Kong Stock Exchange.
The proceeds raised are intended to boost working capital and repay some loans, the Chinese shipbuilder said earlier.
A second issue of the notes could raise about RMB3.6bn.
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