Mengniu is selling exchangeable bonds that will not only raise funds to pay debts but also, at the same time, cut its stake in Modern Dairy. Photo: AP

China Mengniu sells bonds to pay its debts

The bond sale which will raise funds to pay off debts, is a twist in Mengniu’s earlier plan to buy out Modern Dairy in a bid to edge out rival Yili Industrial

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Mengniu is selling exchangeable bonds that will not only raise funds to pay debts but also, at the same time, cut its stake in Modern Dairy. Photo: AP
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