China Trade Information

Shanxi Xishan Coal and Electricity Power Co Ltd announced on Tuesday it has secured approval from board of directors to issue up to 3 billion yuan worth of bonds.

The company said in a statement filed with the Shenzhen Stock Exchange that the bonds will consist of 1.5 billion yuan worth of five-year bonds and 1.5 billion yuan worth of seven-year bonds.

About 376 million yuan of the proceeds will be used to repay bank loans and the remainder will supplement working capital, the Shenzhen-listed company said.

Shanxi Xishan is primarily engaged in the production, processing and sales of coal, as well as the generation and supply of electricity.

Tags: coal, electricity, power

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