China Zenith Chemical Group (HKG:0362) is planning to issue up to 50 non-convertible bonds with a principal amount of HK$1 million each and an issue amount not exceeding HK$50 million, a Feb. 21 filing with the Hong Kong bourse said.

The bonds will carry an interest rate of 10% per annum and will fall due on the first anniversary of the issue date.

The chemical company will use proceeds from the issue for debt repayment and general working capital.