Nine Dragons Plans US Dollar Securities Issuance

Nine Dragons Paper Holdings (HK:2689) has released an update.

Nine Dragons Paper Holdings, a leading producer of packaging paper products, has announced its intention to issue US$-denominated senior perpetual capital securities. The terms, including principal amount and distribution rate, will be determined by a book-building exercise led by Citigroup. The proceeds from this exercise will be used to refinance existing debt and for general corporate purposes, with the offering being restricted in certain jurisdictions including the United States, the European Economic Area, the United Kingdom, and Hong Kong.

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