Huayou Cobalt Issues 500 Million Yuan Science, Tech Bonds; Shares Rise 3%

MT Newswires Live

01/23

Zhejiang Huayou Cobalt (SHA:603799) completed the issuance of science and technology bonds amounting to 500 million yuan, according to a Friday disclosure on the Shanghai bourse.

The bond, which is the second tranche for the year, has a 2.63% interest rate and a term of two years.

China CITIC Bank (HKG:0998, SHA:601998) and Zheshang Bank are the lead underwriters of the issuance.

The proceeds from the bonds will be used to pay debt.

The cobalt company's shares rose over 3% during the morning trade.

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