China-based Shaanxi Province HC to raise over US$475mn from 5-year note issue

Five-year notes have been issued by China-based Shaanxi Province Highway Construction Group to raise USD$476.57 million (CNY 3bn). Shanghai Pudong Development Bank and China Development Bank will be the joint lead underwriters for the notes issue, launched on Monday January 14, 2013, with the latter also acting as a bookrunner. Of the total proceeds, $127.08 million (CNY 800mn) will be used as working capital. A further $111.2 million (CNY 700mn) will be used as project investment, and $238.28 million (CNY
January 9, 2013 Read time: 1 min
Five-year notes have been issued by China-based Shaanxi Province Highway Construction Group to raise USD$476.57 million (CNY 3bn)

Shanghai Pudong Development Bank and 2621 China Development Bank will be the joint lead underwriters for the notes issue, launched on Monday January 14, 2013, with the latter also acting as a bookrunner.

Of the total proceeds, $127.08 million (CNY 800mn) will be used as working capital. A further $111.2 million (CNY 700mn) will be used as project investment, and $238.28 million (CNY 1.5bn) in bank loan repayments.

For more information on companies in this article

Related Content

  • Sichuan and Hainan Province in China will see major road network developments
    March 23, 2012
    In China’s Sichuan Province the city of Mianyang intends to invest over US$1 billion in its transportation network during 2012. The investment will be split between rural road construction, national-provincial trunk highway construction and highway construction. The plans also call for 800km of rural roads and 200km roads between townships and counties. Meanwhile some $2.23 billion will be invested by China's Hainan authority for tourist road development by 2015. The authority expects tourist roads in the p
    Read More
  • Brazil motorway upgrade programme gets extra US$250mn from IADB
    January 21, 2013
    A US$250 million loan has been agreed for a huge motorway upgrade scheme in southern Brazil. The loan from the Inter-American Development Bank (IADB) means a total of $319.47 million (BRL 650mn) is now available for the Pacto por Santa Catarina programme. The 25-year deal includes a 66 month loan grace period. The first phase of the Pacto programme will include an investment of $163.19 million in ten projects covering 222kms. The projects include the construction of new roads as well as asphalting and recov
    Read More
  • NDS to spend US$2.21bn on Zilina, Slovakia motorways
    July 1, 2013
    NDS, the Slovak national motorway company, plans to spend US$2.21 billion (€1.7bn) between 2013 and 2016 on motorway construction projects in the Zilina region of Slovakia. Milan Gajdos, the firm’s managing director and chairman, said that post 2016 a further $1.04 billion (€800mn) will be invested in the region. Currently, tenders worth $1.82 billion (€1.4bn) for motorway projects in the region are already underway, including tenders for stretches of the D1 and D3 motorways. It is still not known whether t
    Read More
  • Romanian road issues
    March 5, 2012
    Political controversy is looming with the revelation that Romania's National Road Company (CNADNR) has spent some €1.5 billion on upgrading 2,800 km of roads since 2004.
    Read More

Highlighted Content