Tianqi Lithium (HKG:9696, SHE:002466) plans to apply for the issuance of bonds up to 6 billion yuan at China's National Association of Financial Market Institutional Investors, according to a Shenzhen bourse filing on Tuesday.
The maximum term of the bonds, which will be issued in tranches, will not exceed five years.
Proceeds from the issuance will be used to supplement the company's working capital and pay debts.
The Chinese lithium products maker's Hong Kong shares dropped less than 3%, while Shenzhen shares fell over 2% during the afternoon trade.
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