Zhongrong International Trust to Sell $367 Million of Bonds in Singapore

What’s new: Zhongrong International Trust Co. Ltd., a subsidiary of Jingwei Textile Machinery Co. Ltd., plans to sell as much as $367 million of bonds through a private placement in Singapore.

The one-year borrowings are intended to raise funds to pay off maturing bonds, the company said. The offshore bonds are being issued through a wholly owned special purpose subsidiary established in the British Virgin Islands by overseas unit Zhongrong International Holdings Ltd.