[ET Net News Agency, 23 September 2019] Wang On Group Limited (01222) said the company
and its subsidiary Twist Pioneer placed orders to acquire notes to be issued by the issuer
in the aggregate principal amount of US$27 million for a total consideration of
approximately US$26.77 million.
The notes are 11.50% senior notes due 26 September 2021 issued by Zhongliang Holdings
Group Company Limited (02772). The notes are expected to be rated "B2" by Moody's
Investors Service and "B+" by Fitch Ratings.
The acquisition forms part of the group's treasury activities in managing its surplus
liquidity and presents an opportunity for the group to balance and diversify its
investment portfolio, in addition to generating a stable return to the group. (RC)