In a regulatory filing the HongKong-quoted shipbuilding conglomerate said the notes would be guaranteed by co-founderZhang Zhirong, who is also the group’s largest single shareholder and hasserved the same function during a similar exercise in the recent past.
Rongsheng said proceeds would be usedfor “general working capital purposes” like the purchase of equipment and productionmaterials in addition to “operating expenses”, which includes employee benefitprogrammes, administrative costs and utilities.
“The
