CSG to issue up to RMB 2 bln in corporate bonds

Published: 05 Nov 2009 23:26:38 PST

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Nov. 6, 2009 (China Knowledge) - CSG Holding Co Ltd<000012><200012>, China's leading glass manufacturer, will issue up to RMB 2 billion in corporate bonds with a maturity of not more than seven years, sources reported.

Details of the bond issuance will be discussed in a board meeting. The exact size of the bond offering will be decided in view of the market conditions and the capital demands of the firm.

CSG recently issued RMB 1 billion in financing bills with a maturity of 365 days. The proceeds from the issuance are expected to be used to replenish the firm's working capital, repay bank loans and optimize the company's financing structure. China Construction Bank Co<601939><0939> was the major underwriter for the sale.

A shares of CSG edged up 2.48% and closed at RMB 17.80 today.