It is reported that Daqin Railway filed it will issue CNY 4 billion worth of corporate bonds. It registered its issuance of CNY 8 billion worth of corporate bonds with the China Securities Regulatory Commission on August 12.

The company hopes to issue the bonds between August 18 and 22 with a coupon rate of between 5.2 and 6%. Some 30% of the bonds will be issued online publicly. The remaining 70% will be issued conventionally to institutional investors. Before listing of the target bonds, Daqin had net assets of CNY 59.76 billion. It had attributable profits of CNY 8.03 billion which was accumulated over the past three years.

(Sourced from China Securities Journal)