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Chengdu investment arm issues bonds to finance ethylene project

10
Jun '09
The Chengdu Industry Investment Group Co. Ltd, a state owned investment enterprise has started to issue seven year corporate bonds totaling to 1.5 billion Yuan, at a coupon rate of 5.08 percent.

This amount is being raised to finance the 800,000 tons per annum ethylene project of China National Petroleum Corporation to be set up in Sichuan. 1.2 billion Yuan will be utilized towards project expenses and the rest towards working capital.

China National Petroleum Corporation (CNPC) is the world's leading integrated international energy company with businesses covering oil and gas upstream and downstream operations.

Among others it also provides, oilfield services, engineering and construction, petroleum material and equipment manufacturing and supply, capital management, finance and insurance services and new energy operations.

Fibre2fashion News Desk - India


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