Zoomlion Heavy Industry Science and Technology (HKG:1157, SHE:000157) applied for the issuance of ultra-short-term financing bonds amounting up to 12 billion yuan at China's National Association of Financial Market Institutional Investors, according to a Shenzhen Stock Exchange filing on Tuesday.
The term of the bonds will not exceed 270 days.
The construction and agricultural machinery manufacturer will use the proceeds from the issuance to replenish its working capital, and pay debts, among other purposes.
The company's Hong Kong shares closed over 3% lower.
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