HC Semitek to Issue Bonds to Raise RMB 500 M

Chinese LED manufacturer HC Semitek announced on Thursday, it would be privately issuing bonds to raise RMB 500 million (US $80.81 million) to replenish the company’s depleted cash flow and improve finances.

The bonds are expected to mature in five years. Investors bond portfolio can consist a single type of bond or have options of producing a diverse bond portfolio with different maturation dates.

HC Semitek’s low cash flow might be attributed to a recent RMB 22.90 million investment in Semicon Light. On Nov. 18, 2014, HC Semitek acquired 402,600 shares at KRW 9,500 per share (US $8.82) from the Korean LED chip manufacturer, equivalent to a 10% share in the company.

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