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Fuyao Glass will issue 500 million yuan short-term financing bill on November 18

Post Time:Nov 12,2009Classify:Company NewsView:312

Fuyao  will issue 500 million yuan short-term financing bill on November 18. Current Bond will adopt the issue methods of booking & filling and gathered sell. The due date and value date are all on the same day----November 19, traded on November 20.

Fuyao Glass Industry Group Co., Ltd. on November 11 issued a public notice that the company decided to issue 500 million yuan, 365 days short-term financing bill in the inter-bank bond market.

Current short-term financing bills don't set up guarantee. Evaluated by International Credit Ratings in good faith Co., Ltd., the credit rating of issuer is AA, the credit rating of the bond is A-1. China Construction Bank and Prudential Bank served as co-lead underwriters of this issue.

Issue bonds is aimed to raise funds  which will be used to repay debt and additional working capital.

About Fuyao Glass

Fuyao Group is a joint venture corporation founded in 1987 in Fuzhou,specialized in production of automotive safety glass and industrial technological glass, and is the first company of the trade in China listed in the Shanghai Stock Exchange in 1993 named Fuyao Glass with the share code number 600660. The group has over 10000 employees and built automotive glass production bases in Fuqing, Changchun, Chongqing, Shanghai, Guangzhou, and Beijing and the modern float glass production bases in Fuqing of Fujian, Shuangliao of Jilin, Tongliao of Inner Mongolia, and Haikou of Hainan, and has established a complete production and sales network across the country. The total assets have accrued from 6.27 million yuan when registered in 1987 to 9.0 billion yuan of the present. It is a transnational company with business offices in America, Japan, Korea, Australia, Russian, Germany,West Europe, and East Europe, etc.

Source: GlassInChinaAuthor: shangyi

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