October 20 -- Shanghai Pudong Road and Bridge Construction (RCode: 600284:) intends to issue 700 million yuan worth of five-year corporate bonds in order to supplement its working capital and repay loans, reports Shanghai Securities News, citing a company filing. The bonds were rated AA.

The company recorded net assets of 4.006 billion yuan as of end 2010, while average annual net profit in the past three years was 166 million yuan.

According to the company’s Semi-Annual Report, it had short-term debts of 1.601 billion yuan as of end June, of which short-term loans accounted for 1.01 billion yuan.

Source:CapitalVue