Kelun Pharmaceutical raises RMB 800m debt financing

Sichuan Kelun Pharmaceutical Co raised RMB 800 million through ultra-short-term commercial paper, completing the issuance on July 17 with funds received the same day.

The 150-day paper carries a 1.6% annual interest rate and matures December 14. The company has approval for RMB 4 billion total under the program from the National Association of Financial Market Institutional Investors.

Proceeds will repay debt and supplement working capital. China Minsheng Bank and Bank of Chengdu were among the underwriters.