China Hongqiao Group issues Rmb10.2bn convertible bond
The bonds will be used to stockpile bauxite, refinance debt, to invest in overseas projects, share repurchases and for general corporate purposes; the aluminium giant also issued a concurrent share repurchase.
Shandong-headquartered aluminium producer China Hongqiao Group has issued Rmb10.2 billon ($1.49 billion) US dollar-settled zero-coupon convertible bonds due 2027 and a concurrent share repurchase by the company, completing on May 5.
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