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2008-1-24 11:41:00 a.m. HKT, XFNA
China Electronics Corp issues 1.3 bln yuan in 365-day debt; yield 5.9 pct
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BEIJING (XFN-ASIA) - China Electronics Corp, parent of Shanghai-listed
Nanjing Panda Electronic Co Ltd (SHA 600775), said it issued 1.3 bln yuan
worth of 365-day debt on the interbank bond market on Jan 21.
In a statement posted on the official Chinabond.com website, the company
said the yield was set at 5.9 pct, or a 126-basis point premium to the
one-year Shanghai Interbank Offered Rate (SHIBOR).
Proceeds will be used to supplement working capital and adjust the
company's financial structure, it said.
Industrial Bank and China Everbright Bank were the main underwriters.
(1 usd = 7.25 yuan)
ivy.cheng@xfn.com xfnic/xfjamesa
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