China Resources Gas Raises RMB2.5 Billion in Second Tranche Medium Term Notes

The latest announcement is out from China Resources Gas Group ( (HK:1193) ).

China Resources Gas Group has completed the issuance of a second tranche of medium term notes in mainland China via its wholly owned subsidiary, China Resources Gas Investment (China) Company Limited. The notes total RMB2.5 billion, carry a three-year term and a coupon rate of 1.59% per annum, expanding the group’s onshore funding profile at relatively low cost.

Proceeds from the new notes will be used to repay interest-bearing debts, replace bank loans that were previously settled with internal funds, and replenish working capital at the subsidiary level. The transaction is expected to strengthen the group’s balance sheet flexibility and liquidity, which may support ongoing operations and investment needs in its core gas distribution business while potentially reducing overall financing costs.

The most recent analyst rating on (HK:1193) stock is a Hold with a HK$19.50 price target. To see the full list of analyst forecasts on China Resources Gas Group stock, see the HK:1193 Stock Forecast page.

More about China Resources Gas Group

China Resources Gas Group Limited is a Hong Kong-listed gas utility company incorporated in Bermuda that operates through subsidiaries such as China Resources Gas Investment (China) Company Limited in the mainland Chinese market. The group focuses on city gas distribution and related services across the People’s Republic of China, supplying natural gas and associated infrastructure to residential, commercial and industrial customers.

Average Trading Volume: 3,236,630

Technical Sentiment Signal: Sell

Current Market Cap: HK$44.18B

For detailed information about 1193 stock, go to TipRanks’ Stock Analysis page.