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Fosun Pharma to raise 7B yuan via bond issuance

Shanghai Fosun Pharmaceutical (Group) Co. Ltd. plans to raise up to 7 billion Chinese yuan by issuing unsecured bonds.

The company will use proceeds to replenish its working capital and repay interest-bearing debt.

The bonds will have a maturity term of no more than seven years and may be issued in a single tranche or through multiple tranches.

As of April 3, US$1 was equivalent to 6.89 Chinese yuan.