Wuxi Zhenhua Auto Parts (SHA:605319) will issue convertible bonds worth 520 million yuan, according to a Shanghai bourse disclosure on Wednesday.
The convertible bonds have a term of six years. The initial coupon rate will be 0.2% in the first year and will eventually increase to 2.5% in the sixth year, the Chinese automotive stampings company said.
Orient Securities (SHA:600958, HKG:3958), also trading as DFZQ, is the lead underwriter of the issuance.
Zhenhua Auto Parts' shares closed less than 3% lower.
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