Shandong Hongqiao issues 1.2 billion yuan corporate bonds for two new fabrication projects
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Shandong Hongqiao New Material Co. issued a total of 1.2 billion yuan ($196 mn) for financing two fabrication projects and supplementing the working capital, as reported by China Economic Herald.
The company raised their funds by issuing a 7-year corporate bond with a sum of 1.1 bilion yuan . This fund would be used for an 80,000-tpy production line for making aluminum foam used for aviation purpose and a 60,000-tpy line for making aluminum foils used especially in air conditioners. According to the report, the company would allocate another 100 million yuan for their additional operation funds.
