Shandong Cement offering short-term bills worth over US$243mn

China-based Shandong Shanshui Cement Group Limited (Shandong Cement) is offering nine-month bills worth US$243.09 million (CNY 1.5 billion). The company is to spend the proceeds on bank debt settlement and increased working capital. The firm has assigned China Merchants Bank as the lead bookrunner and underwriter. The bills can be traded from today (11 August 2014).

Meanwhile, 6819 Asia Cement (China) Holdings Corp's net profit increased by 50% year-on-year to $62.14 million (CNY 383 million) January-June 2014. The company's gross profit amounted to $150.76 million (CNY 930 million), while its income rose by 23% to $632.24 million (CNY 3.9 billion).