Cement JV sells $237m offshore RMB bonds
Updated: 2011-11-16 10:20
(Xinhua)
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BEIJING - Lafarge Shui On Cement Ltd, a joint venture between French cement maker Lafarge Group and Hong Kong-listed SOCAM Development Limited, said on Tuesday it has wrapped up sales of 1.5 billion yuan ($237 million) of offshore RMB bonds.
The yuan-denominated notes, which were issued in Hong Kong on Nov 9, have instantly attracted investors from Hong Kong, Chinese mainland and other parts of Asia, according to a statement of the company.
"I believe that this operation will further strengthen our financial structure," said Sang Kang, Chief Executive Officer of Lafarge Shui On Cement.
Citigroup, HSBC, Mitsubishi UFJ Securities International plc and Standard Chartered were the joint bookrunners of the bonds.
The joint venture, which was formed in 2005, is 55 percent owned by Lafarge and 45 percent owned by SOCAM.
