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| An Expanded Loan Portfolio to Drive Business Growth |
HONG KONG, Sept 18, 2012 - (ACN Newswire) - Credit China Holdings Limited ("Credit China" or the "Company") (Stock code: 8207), one of the leading financing service providers in China, is pleased to announce today the successful completion of the issue of RMB200,000,000 11 per cent two-year bonds ("the Bonds"). The net proceeds raised are intended to be used for the Company's working capital.
Wing Lung Bank Limited and Haitong International Securities Company Limited are the joint bookrunners and joint lead managers for the issuance of the Bonds. They have entered into the subscription agreement with the Company earlier for the issuance. The RMB200,000,000 bonds issued by the Company are bearing an interest rate of 11 per cent per annum and due 18 September 2014. This is the second time for the Company to have issued RMB bonds, following the first issuance of RMB100,000,000 bonds in September 2011.
Mr Shi Zhijun, Chairman of Credit China, said, "Credit China is the first GEM listed company to issue offshore RMB-denominated bonds. We have been actively seeking to expand the funding sources by broadening the channels for financing. Subsequent to the completion of this bond issuance, the Company's loan portfolio has been further expanded which allows us to better capture the booming demand for short-term loans to SMEs in the PRC for the best interest of the shareholders.
In addition, Credit China has collaborated in the Strategic Cooperation Plan with the second largest shareholder of the Company, PRC stated-owned Shanghai Xinhua Publishing Group Limited ("Xinhua Publishing"). Under the Plan, Xinhua Publishing is to provide funding support of up to RMB1 billion to the Company in the coming two years. Thus, we are confident in the company's business growth and future development."
Contact:
Strategic Financial Relations Limited
Ms. Joanne Lam, Tel: 852-2864-4816, Email: joanne.lam@sprg.com.hk
Ms. Agnes Luo, Tel: 852-2864-4851, Email: agnes.luo@sprg.com.hk
Fax: 852-2804-2789 / 2527-1196
Topic: Issue of Stocks/Bonds
Source: Credit China Holdings Limited
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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