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China's Zuoli Kechuang Micro-finance to issue short-term bonds

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China's Zuoli Kechuang Micro-finance to issue short-term bonds

China's Zuoli Kechuang Micro-finance Co. Ltd. plans to issue 25 million Chinese yuan of short-term bonds.

The bonds will be priced with an interest rate of 6% per year and have a tenor of six months. The bonds will be issued Jan. 23.

The offering is part of the company's plan to issue up to 600 million yuan of bonds. Proceeds from the issuance will be used to replenish liquidity for granting loans.

As of Jan. 19, US$1 was equivalent to 6.88 Chinese yuan.