Huajin Tongda Issues Bonds for Loans     

Liaoning Huajin Tongda Chemicals Co., Ltd. (Huajin Tongda, SZ: 000059) announced on June 29th its board has agreed to issue RMB2 billion of convertible bonds with detachable warrants for loans and working capital.
   Huajin Tongda is building a 450 thousand t/a ethylene facility and matching units, which is scheduled for trial run in September 2009. Construction on the new project was started in 2006.
   The RMB1.5 billion of proceeds is to be used to repay bank loans ever financing the new ethylene facility. (CCR2009 No. 1)