Suning to Issue Initial Batch of RMB 4.5 Bln in Corporate Bonds

Suning, 12/13/12

Chinese consumer electronics and home appliances retailer Suning (002024.SZ) yesterday announced that its plan to issue up to RMB 8 bln in corporate bonds has been approved by the China Securities Regulatory Commission (CSRC) and the company's major shareholders. The company will issue the bonds in a staggered schedule beginning with the sale of RMB 4.5 bln in five-year AAA bonds with a 4.9%-5.4% yield on December 14.

Suning said the proceeds of the sale, minus underwriting fees, will be used for working capital and debt restructuring purposes.

Editor's Note: For more background on this topic, please see "Suning to Issue RMB 8 Bln in Corporate Bonds" MD 8/14/12 issue.

Keywords: debt financing consumer electronics hardware Suning home appliances 002024.SZ retail

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