Genertec Universal Medical Group (HKG:2666) unit China Universal Leasing received approval from the China Securities Regulatory Commission for the issue of 8 billion yuan of corporate bonds, a Jan. 20 bourse filing said.

The unit is planning to issue the corporate bonds with a basic term of five years to qualified investors in China, according to the healthcare service provider.

China Universal Leasing will issue the bonds in multiple tranches. At the end of the third year, the issuer will be entitled to repurchase and coupon rate adjustment options, while the investors will be entitled to a sell-back option.