[ET Net News Agency, 17 January 2020] China ZhengTong Auto Services Holdings Limited
(01728) said the company will issue senior notes in the aggregate principal amount of
US$160 million, which will mature on 21 January 2022.
The offering price of the notes will be 12.0% of the principal amount of the notes. The
notes will bear interest from and including 21 January 2020 at a rate of 12.0% per annum
payable semi-annually in arrears on 21 January and 21 July of each year, commencing on 21
July 2020.
The company intends to use the net proceeds to refinance certain of indebtedness and for
general corporate and working capital purposes. (RC)