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

  • East Africa drives towards road tolling
    March 18, 2016
    Road tolling is increasing in East Africa as the region’s countries expand highway networks - Shem Oirere writes. The drive towards road tolling in East Africa is gaining momentum. Uganda appears to have broken ranks with its neighbours to make huge strides in achieving progress with this innovative road financing plan. Road tolling has hitherto has been held back in East Africa for lack of political goodwill and State bureaucracies. Kenyan government officials have made announcements on planned road tollin
    Read More
  • Thirst for Infrastructure: The Belt & Road Initiative
    November 8, 2017
    Susanna Zammataro, IRF Geneva, writes: The China Highway and Transportation Society (CHTS) – an esteemed member of IRF – will be hosting a special Session on the Belt and Road Initiative during the IRF World Meeting in Delhi, 14th-17th November 2017. Last May, president Xi Jinping welcomed 28 heads of state and government to Beijing to celebrate the “Belt and Road” initiative, an ambitious plan in terms of infrastructure development, but also in terms of foreign policy. Launched in 2013 as “One belt, On
    Read More
  • Beijing's BICES reflects China's economic growth
    February 27, 2012
    The busy BICES show reflects China’s booming infrastructure investment and growing economy – Mike Woof reports. The recent BICES trade show in capital Beijing was extremely busy, with high visitor attendance levels and crowded aisles. The interest in the event strongly reflects the country’s massive infrastructure growth, which continues to develop. The construction equipment business has been identified as a key economic priority by the Chinese Government, with manufacturers being offered numerous incentiv
    Read More
  • Over US$380mn for Hungary road repairs in 2013
    June 11, 2013
    Around US$388.39 million (HUF 87bn) will be spent on road repairs in Hungary during 2013, according to State Secretary of the Hungarian Ministry of National Development (NFM) Sara Hegmanne Nemes. As a result, country roads with a total length of some 600kms will be repaired. The project will be financed from EU funds in line with the country's New Szechenyi Plan (USZT). In Jasz-Nagykun-Szolnok county, some 28.4kms of road will be renovated from $14.11 million (HUF 3.18bn). This includes the upgrade of a 5.4
    Read More

Highlighted Content