Date: 2013-07-31

China's Shenyang Machine Tool Group to Issue 500mln Yuan in 365-day Debt

China's Shenyang Machine Tool Group to Issue 500mln Yuan in 365-day Debt

Shenyang Machine Tool Group, the parent of Shenyang Machine Tool Co Ltd (SZA 000410), said it plans to issue 500 mln yuan of 365-day debt on the interbank bond market on March 10.

In a statement published on the official Chinabond.com website, the company said the yield will be determined via a book building process.

The proceeds will be used to supplement working capital, the company said.

Shanghai Pudong Development Bank Co Ltd will be the main underwriter of the issue.

Shenyang Machine Tool Group makes lathes, drilling machines, milling and boring machines.

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