SHANGHAI, March 16 (Reuters) - China State Construction Engineering Corp (CSCEC), the country's largest homebuilder, said on Tuesday it planned to issue up to 20 billion yuan ($2.93 billion) worth of bills.
The funds raised by the bills, with a maturity of no more than 10 years, would be used to supplement working capital and pay back bank loans, the company said in a statement filed to the Shanghai Stock Exchange.
It did not give details on the timing or pricing of the issue, which will require approval from a shareholders meeting scheduled for April 9.
($1=6.825 Yuan)
(Reporting by Rujun Shen and Farah Master; Editing by Jonathan Hopfner)
((rujun.shen@thomsonreuters.com; +86 21 6104-1779; Reuters Messaging: rujun.shen.reuters.com@reuters.net)) Keywords: CHINA CSCEC/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The funds raised by the bills, with a maturity of no more than 10 years, would be used to supplement working capital and pay back bank loans, the company said in a statement filed to the Shanghai Stock Exchange.
It did not give details on the timing or pricing of the issue, which will require approval from a shareholders meeting scheduled for April 9.
($1=6.825 Yuan)
(Reporting by Rujun Shen and Farah Master; Editing by Jonathan Hopfner)
((rujun.shen@thomsonreuters.com; +86 21 6104-1779; Reuters Messaging: rujun.shen.reuters.com@reuters.net)) Keywords: CHINA CSCEC/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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