Flat-glass maker China Glass Holdings Ltd. said 22 June 2007 that it plans to issue up to USD 120 million worth of fixed rate notes to institutional investors to help refinance existing debt and for g…
Flat-glass maker China Glass Holdings Ltd. said 22 June 2007 that it plans to issue up to USD 120 million worth of fixed rate notes to institutional investors to help refinance existing debt and for general corporate purposes. The company, which listed in Hong Kong in 2005, said the offer price and interest rate of the notes are still to be set. Standard Chartered PLC is sole bookrunner for the proposed issue. China Glass is one of the country“s largest listed glass producers. In the week ending 16 June 2007, International Finance Corp. increased its stake in the company to 8.1% after buying 14 million new shares, representing 3.5% of the company“s existing share capital.