Lanxess issues 500m yuan in 'dim sum' bonds
By Shi Jing | China Daily | Updated: 2012-02-10 07:38
German firm aims to utilize funds to build new facility in Jiangsu province
SHANGHAI - The German specialty chemicals company Lanxess AG announced on Thursday that it will issue Chinese offshore renminbi-dominated bonds in Hong Kong worth 500 million yuan ($79.4 million) to build a new leather chemicals plant in Changzhou, Jiangsu province and a new pigment plant.
According to the company's news release, the bonds have a yearly coupon of 3.95 percent and will begin trading on Monday. The bonds have been placed with institutional investors in Asia and Europe.
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