July 12 -- Huafu Top Dyed Melange Yarn (002042) filed it will issue one billion yuan worth corporate bonds with maximum maturities of five years, reports China Securities Journal. The bonds can have the same maturity or multiple maturities. The issuance will be used to replenish the company’s working capital.

Huafu Top, which is based in Huaibei city, announced last month that it plans to form a garment-dyeing subsidiary called Dongzhi Huafu Dyeing Co., Ltd. for 100 million yuan to boost the company’s strategic interests in the Yangtze River region.

Source:CapitalVue