Jilin Petrochemical bond issue

Jilin Petrochemical Group will issue bonds worth one billion yuan to finance construction of a new ethylene plant. The China Securities News reported the bonds would be issued between June 18 and July 17, adding the group would apply for domestic stock listing in either Shenzhen or Shanghai. The tranche would include 700 million yuan worth of three-year bonds carrying an annual interest rate of 8 per cent, and five-year bonds worth 300 million yuan carrying 9 per cent.