Crane operator Yongmao Holdings BKX has launched its new $20 million multicurrency multi-tranche unsecured commercial paper facility programme in digital securities, according to a Oct 1 release.
The programme is set to be listed on the SDAX digital platform, which is operated by market operator SDAX Exchange.
The group has also launched its inaugural issue under the programme at an interest rate of 5.3% per annum, which will mature approximately three months from the date of issuance.
The group expects to raise between $2 million and $4 million from accredited and institutional investors under the three-month series 001 SDAX issuance, which is expected to be determined by the board after taking investor demand into account, reads the release.
Further announcements are expected to follow subject to material developments.
Shares in Yongmao Holdings closed flat at 58 cents on Oct 1.
