By Yifan Wang
China Railway Construction Corp. plans to issue up to 3.0 billion yuan ($440.8 million) worth of extendable corporate bonds.
The bonds, which are expected to be listed on the Shanghai stock exchange, will have repricing periods of three years and five years, at the end of which the issuer will have the option to extend the bonds by another repricing period, it said Tuesday.
The engineering company said it plans to use the bond proceeds for working capital needs.
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