Shanxi Guoxin Energy (SHA:600617) plans to issue up to 2 billion yuan via the private placement of perpetual corporate bonds for working capital, debt repayment and project construction.

The bonds will have a base term of up to five years, extendable at the company's option, according to a Tuesday filing with the Shanghai bourse.

The coupon rate will be determined through book-building with an adjustment mechanism.

Shares of the natural gas company closed 6% higher Tuesday.