December 02, 2008

Hunan Valin Steel Tube & Wire to issue CNY 1.5 billion in 365 day debt

XFN Asia reported that Hunan Valin Steel Tube & Wire Co Ltd will issue up to CNY 1.5 billion worth of 365 day short term debt on July 28th.

Hunan Valin Steel Tube & Wire Co Ltd in a statement said the company yield will be determined through book building on the day. It said proceeds from the bond issue will supplement working capital and help pay down bank loans.

Bank of China Ltd will be the lead underwriter.