China Hongqiao Completes RMB10.2 Billion Zero-Coupon Convertible Bond Issue
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China Hongqiao Group Ltd. has successfully issued RMB10.2 billion (approximately US$1.47 billion) in zero-coupon convertible bonds due 2027. The proceeds will primarily be used for securing bauxite supplies, refinancing debt, funding overseas projects, supporting share repurchases, and general corporate needs. About 40% of the funds will be allocated to bauxite procurement, 30% for debt refinancing, and the rest for expansion and financial flexibility. The stock currently holds a Buy rating with a price target of HK$45.00.
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